NexGen Energy (NYSE:NXE) Reaches New 52-Week High – Still a Buy?

Shares of NexGen Energy (NYSE:NXE) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.27 and last traded at $11.9850, with a volume of 9151038 shares. The stock had previously closed at $11.89.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a research note on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NexGen Energy currently has an average rating of “Moderate Buy”.

NexGen Energy Stock Performance

The company has a market cap of $8.27 billion, a PE ratio of -30.56 and a beta of 1.43. The firm’s 50 day moving average is $9.60 and its 200-day moving average is $8.49.

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

Institutional Trading of NexGen Energy

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in shares of NexGen Energy by 287,500.0% during the 3rd quarter. Versant Capital Management Inc now owns 2,876 shares of the company’s stock worth $26,000 after acquiring an additional 2,875 shares during the period. CWM LLC acquired a new stake in NexGen Energy during the third quarter worth about $41,000. Canton Hathaway LLC acquired a new stake in NexGen Energy during the second quarter worth about $57,000. Olympiad Research LP purchased a new position in NexGen Energy during the second quarter worth about $73,000. Finally, Flow Traders U.S. LLC acquired a new position in NexGen Energy in the 2nd quarter valued at about $76,000. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

About NexGen Energy

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.