NexGen Energy (NYSE:NXE) Trading 7.8% Higher – Should You Buy?

NexGen Energy (NYSE:NXE) rose 7.8% on Friday . The company traded as high as $9.09 and last traded at $9.1650. Approximately 1,654,657 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 9,232,824 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

NXE has been the topic of several research reports. Zacks Research raised shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

NexGen Energy Stock Up 7.6%

The company has a market capitalization of $5.99 billion, a PE ratio of -22.30 and a beta of 1.54. The company has a 50-day moving average price of $8.75 and a two-hundred day moving average price of $7.82.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). As a group, equities analysts anticipate that NexGen Energy will post -0.05 EPS for the current fiscal year.

Institutional Trading of NexGen Energy

Large investors have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in NexGen Energy by 287,500.0% in the third quarter. Versant Capital Management Inc now owns 2,876 shares of the company’s stock valued at $26,000 after purchasing an additional 2,875 shares in the last quarter. CWM LLC purchased a new stake in shares of NexGen Energy in the 3rd quarter valued at $41,000. Compound Planning Inc. bought a new position in shares of NexGen Energy during the 1st quarter valued at $46,000. PenderFund Capital Management Ltd. raised its position in NexGen Energy by 45.0% in the 1st quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company’s stock worth $52,000 after purchasing an additional 3,600 shares during the period. Finally, Canton Hathaway LLC bought a new stake in NexGen Energy in the second quarter worth $57,000. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.