NexGen Energy (NYSE:NXE) Shares Gap Up to $5.98

NexGen Energy Ltd. (NYSE:NXE) gapped up prior to trading on Friday . The stock had previously closed at $5.98, but opened at $6.33. NexGen Energy shares last traded at $6.36, with a volume of 1,211,675 shares.

Analyst Upgrades and Downgrades

NXE has been the subject of a number of recent research reports. National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Ventum Cap Mkts raised shares of NexGen Energy to a “strong-buy” rating in a report on Monday, July 8th. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, NexGen Energy has a consensus rating of “Strong Buy” and a consensus target price of $11.00.

NexGen Energy Stock Up 4.7 %

The firm’s 50 day simple moving average is $6.00 and its 200 day simple moving average is $7.02. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -626.00 and a beta of 1.91.

NexGen Energy (NYSE:NXE) last posted its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. During the same period last year, the firm earned ($0.03) earnings per share. Analysts anticipate that NexGen Energy Ltd. will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

A number of institutional investors and hedge funds have recently bought and sold shares of NXE. BNP Paribas Financial Markets raised its position in shares of NexGen Energy by 8,635,700.0% during the 4th quarter. BNP Paribas Financial Markets now owns 86,358 shares of the company’s stock worth $605,000 after buying an additional 86,357 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in NexGen Energy during the fourth quarter worth approximately $332,000. TD Asset Management Inc lifted its position in NexGen Energy by 37.2% in the fourth quarter. TD Asset Management Inc now owns 3,014,160 shares of the company’s stock worth $21,190,000 after purchasing an additional 817,897 shares during the period. Scotia Capital Inc. boosted its stake in NexGen Energy by 30.0% during the 4th quarter. Scotia Capital Inc. now owns 38,086 shares of the company’s stock valued at $266,000 after purchasing an additional 8,792 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in NexGen Energy by 3.7% during the 4th quarter. Bank of Nova Scotia now owns 846,095 shares of the company’s stock valued at $5,919,000 after purchasing an additional 30,179 shares in the last quarter. 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 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.