NexGen Energy (NYSE:NXE) Shares Gap Up – Here’s Why

NexGen Energy Ltd. (NYSE:NXE) shares gapped up prior to trading on Tuesday . The stock had previously closed at $6.09, but opened at $6.33. NexGen Energy shares last traded at $6.36, with a volume of 1,027,337 shares traded.

NexGen Energy Stock Up 6.6 %

The firm has a market capitalization of $3.83 billion, a P/E ratio of 44.90 and a beta of 1.96. The business’s 50-day simple moving average is $7.42 and its 200 day simple moving average is $6.88.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). During the same period last year, the company earned ($0.04) EPS. Sell-side analysts predict that NexGen Energy Ltd. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors have recently added to or reduced their stakes in NXE. Kapitalo Investimentos Ltda purchased a new position in shares of NexGen Energy during the third quarter valued at approximately $6,585,000. CIBC Asset Management Inc boosted its holdings in NexGen Energy by 13.4% in the third quarter. CIBC Asset Management Inc now owns 926,314 shares of the company’s stock valued at $6,043,000 after acquiring an additional 109,754 shares in the last quarter. Rye Brook Capital LLC increased its position in NexGen Energy by 18.7% during the 3rd quarter. Rye Brook Capital LLC now owns 695,000 shares of the company’s stock valued at $4,538,000 after purchasing an additional 109,500 shares during the period. Millennium Management LLC raised its holdings in NexGen Energy by 109.6% in the 2nd quarter. Millennium Management LLC now owns 1,641,407 shares of the company’s stock worth $11,441,000 after purchasing an additional 858,471 shares in the last quarter. Finally, Mountaineer Partners Management LLC lifted its position in shares of NexGen Energy by 536.6% in the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock worth $24,071,000 after purchasing an additional 3,107,214 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.