NexGen Energy (NYSE:NXE) Reaches New 12-Month High – Here’s Why

NexGen Energy (NYSE:NXE) hit a new 52-week high on Thursday . The stock traded as high as $9.95 and last traded at $9.9450, with a volume of 5840050 shares changing hands. The stock had previously closed at $9.31.

Analysts Set New Price Targets

NXE has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. TD Securities reiterated a “buy” rating on shares of NexGen Energy in a research note on Friday, August 8th. Zacks Research upgraded shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

NexGen Energy Price Performance

The business’s fifty day moving average price is $8.75 and its 200 day moving average price is $7.64. The stock has a market cap of $6.16 billion, a P/E ratio of -22.95 and a beta of 1.54.

NexGen Energy (NYSE:NXE) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). On average, analysts predict that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of NexGen Energy by 287,500.0% during the third quarter. Versant Capital Management Inc now owns 2,876 shares of the company’s stock worth $26,000 after purchasing an additional 2,875 shares during the last quarter. CWM LLC bought a new position in NexGen Energy in the 3rd quarter valued at approximately $41,000. Canton Hathaway LLC acquired a new stake in NexGen Energy during the 2nd quarter worth approximately $57,000. Compound Planning Inc. bought a new stake in NexGen Energy during the 1st quarter worth approximately $46,000. Finally, First Trust Advisors LP bought a new stake in NexGen Energy during the 3rd quarter worth approximately $94,000. Institutional investors own 42.43% of the company’s stock.

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.