NexGen Energy (NYSE:NXE) Trading 5.3% Higher – Time to Buy?

NexGen Energy Ltd. (NYSE:NXE)’s stock price was up 5.3% on Wednesday . The stock traded as high as $6.66 and last traded at $6.66. Approximately 2,348,938 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 8,097,163 shares. The stock had previously closed at $6.32.

NexGen Energy Stock Up 6.6 %

The business’s fifty day moving average is $7.42 and its 200-day moving average is $6.88. The company has a market cap of $3.83 billion, a PE ratio of 44.90 and a beta of 1.96.

NexGen Energy (NYSE:NXE) last issued 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 firm posted ($0.04) EPS. Analysts forecast that NexGen Energy Ltd. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new position in NexGen Energy in the 3rd quarter worth $6,585,000. CIBC Asset Management Inc lifted its position in shares of 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 boosted its stake in shares of NexGen Energy by 18.7% in the third quarter. Rye Brook Capital LLC now owns 695,000 shares of the company’s stock worth $4,538,000 after acquiring an additional 109,500 shares during the period. Millennium Management LLC grew its position in shares of NexGen Energy by 109.6% during the second 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 raised its stake in NexGen Energy by 536.6% during the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock valued at $24,071,000 after purchasing an additional 3,107,214 shares during the period. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Company Profile

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.