Traders Purchase Large Volume of NexGen Energy Call Options (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) was the target of some unusual options trading activity on Monday. Investors acquired 26,447 call options on the company. This represents an increase of 155% compared to the average daily volume of 10,361 call options.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. L1 Capital Pty Ltd boosted its position in shares of NexGen Energy by 6.3% in the 1st quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company’s stock worth $187,127,000 after buying an additional 1,423,317 shares in the last quarter. Vanguard Group Inc. lifted its holdings in NexGen Energy by 5,020.5% in the 1st quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company’s stock valued at $126,047,000 after purchasing an additional 15,905,444 shares in the last quarter. MMCAP International Inc. SPC lifted its holdings in NexGen Energy by 1,627.2% in the 1st quarter. MMCAP International Inc. SPC now owns 3,564,665 shares of the company’s stock valued at $27,697,000 after purchasing an additional 3,358,278 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in NexGen Energy by 74.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,341,885 shares of the company’s stock valued at $23,393,000 after purchasing an additional 1,430,709 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in NexGen Energy by 69.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,135,565 shares of the company’s stock valued at $21,880,000 after purchasing an additional 1,283,210 shares in the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Stock Performance

Shares of NXE opened at $6.51 on Tuesday. The stock has a market capitalization of $3.65 billion, a P/E ratio of -650.50 and a beta of 1.91. The company’s fifty day moving average is $5.99 and its two-hundred day moving average is $7.01. NexGen Energy has a 1 year low of $4.95 and a 1 year high of $8.88.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. During the same quarter in the previous year, the business earned ($0.03) EPS. Sell-side analysts predict that NexGen Energy will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.