NexGen Energy (NYSE:NXE) Stock Price Down 4.7% – What’s Next?

NexGen Energy Ltd. (NYSE:NXE)’s share price was down 4.7% during trading on Tuesday . The stock traded as low as $4.92 and last traded at $4.93. Approximately 3,898,543 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 9,683,332 shares. The stock had previously closed at $5.17.

Analysts Set New Price Targets

Several research firms recently issued reports on NXE. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Nicolaus assumed coverage on shares of NexGen Energy in a report on Wednesday, March 12th. They set a “buy” rating for the company. Finally, Stifel Canada raised shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Two research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NexGen Energy currently has an average rating of “Strong Buy”.

NexGen Energy Price Performance

The stock has a 50-day moving average price of $5.81 and a two-hundred day moving average price of $6.73. The stock has a market cap of $2.75 billion, a PE ratio of 32.17 and a beta of 1.97.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NexGen Energy by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company’s stock valued at $230,828,000 after acquiring an additional 501,952 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of NexGen Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,436,513 shares of the company’s stock worth $134,779,000 after buying an additional 298,106 shares during the last quarter. Segra Capital Management LLC raised its position in shares of NexGen Energy by 19.8% during the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after buying an additional 1,931,200 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of NexGen Energy by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 8,747,305 shares of the company’s stock valued at $57,659,000 after acquiring an additional 82,413 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of NexGen Energy by 79.7% in the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock valued at $55,971,000 after acquiring an additional 3,762,756 shares during the last quarter. 42.43% of the stock is 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 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.