NexGen Energy (NYSE:NXE) Trading Down 7.9%

NexGen Energy Ltd. (NYSE:NXE)’s stock price was down 7.9% during mid-day trading on Thursday . The company traded as low as $6.13 and last traded at $6.14. Approximately 2,283,809 shares changed hands during trading, a decline of 61% from the average daily volume of 5,803,222 shares. The stock had previously closed at $6.67.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NXE shares. Ventum Cap Mkts upgraded NexGen Energy to a “strong-buy” rating in a research note on Monday, July 8th. Haywood Securities upgraded NexGen Energy to a “strong-buy” rating in a research note on Friday, May 17th.

NexGen Energy Stock Performance

The firm has a market capitalization of $3.13 billion, a P/E ratio of -553.95 and a beta of 1.93. The business has a 50 day simple moving average of $6.96 and a two-hundred day simple moving average of $7.44.

NexGen Energy (NYSE:NXE) last announced its earnings results on Wednesday, May 8th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). On average, equities analysts anticipate that NexGen Energy Ltd. will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NexGen Energy by 7.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,505,360 shares of the company’s stock valued at $179,307,000 after purchasing an additional 1,744,062 shares during the last quarter. Swiss National Bank increased its position in shares of NexGen Energy by 12.9% during the 1st quarter. Swiss National Bank now owns 989,000 shares of the company’s stock valued at $7,686,000 after purchasing an additional 112,700 shares during the last quarter. Van ECK Associates Corp increased its position in shares of NexGen Energy by 23.3% during the 1st quarter. Van ECK Associates Corp now owns 1,852,355 shares of the company’s stock valued at $14,395,000 after purchasing an additional 350,017 shares during the last quarter. Southland Equity Partners LLC increased its position in shares of NexGen Energy by 22.0% during the 1st quarter. Southland Equity Partners LLC now owns 21,327 shares of the company’s stock valued at $166,000 after purchasing an additional 3,840 shares during the last quarter. Finally, Bornite Capital Management LP bought a new position in shares of NexGen Energy during the 4th quarter valued at about $3,630,000. 42.43% of the stock is currently owned by institutional investors.

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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.