Traders Buy High Volume of Call Options on NexGen Energy (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) was the recipient of some unusual options trading activity on Thursday. Investors purchased 18,258 call options on the stock. This represents an increase of 173% compared to the typical daily volume of 6,688 call options.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in NexGen Energy by 36.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 72,175 shares of the company’s stock worth $431,000 after purchasing an additional 19,088 shares during the period. Affinity Wealth Management LLC acquired a new stake in shares of NexGen Energy during the third quarter worth approximately $2,776,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NexGen Energy by 45.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,690 shares of the company’s stock worth $684,000 after purchasing an additional 35,677 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of NexGen Energy by 1.3% during the 3rd quarter. Mackenzie Financial Corp now owns 192,591 shares of the company’s stock valued at $1,079,000 after acquiring an additional 2,550 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NexGen Energy by 12.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,761,298 shares of the company’s stock valued at $142,884,000 after acquiring an additional 2,612,540 shares during the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Price Performance

Shares of NYSE:NXE traded up $0.35 during midday trading on Thursday, hitting $8.15. The company’s stock had a trading volume of 3,118,708 shares, compared to its average volume of 6,352,925. The company has a debt-to-equity ratio of 0.19, a quick ratio of 11.00 and a current ratio of 11.00. The business’s 50 day simple moving average is $7.70 and its 200 day simple moving average is $7.11. NexGen Energy has a 12-month low of $3.61 and a 12-month high of $8.88. The company has a market cap of $4.40 billion, a P/E ratio of 389.94 and a beta of 1.90.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). On average, analysts forecast that NexGen Energy will post -0.1 EPS for the current year.

Analysts Set New Price Targets

Separately, Scotiabank assumed coverage on shares of NexGen Energy in a research report on Monday, April 1st. They set a “sector outperform” rating for the company.

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.