NexGen Energy (NYSE:NXE) Shares Gap Up to $5.98

Shares of NexGen Energy Ltd. (NYSE:NXE) gapped up before the market opened on Friday . The stock had previously closed at $5.98, but opened at $6.33. NexGen Energy shares last traded at $6.36, with a volume of 1,211,675 shares traded.

Analyst Upgrades and Downgrades

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

NexGen Energy Price Performance

The stock’s fifty day simple moving average is $6.02 and its two-hundred day simple moving average is $7.04. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -636.00 and a beta of 1.91.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. During the same period last year, the company earned ($0.03) earnings per share. On average, sell-side analysts predict that NexGen Energy Ltd. will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NXE. Larson Financial Group LLC acquired a new position in shares of NexGen Energy during the second quarter valued at $33,000. Lodestone Wealth Management LLC acquired a new stake in shares of NexGen Energy in the first quarter valued at approximately $91,000. Element Capital Management LLC acquired a new stake in shares of NexGen Energy in the second quarter valued at approximately $110,000. Legacy Capital Group California Inc. bought a new stake in shares of NexGen Energy during the second quarter valued at approximately $125,000. Finally, CapWealth Advisors LLC acquired a new position in shares of NexGen Energy during the second quarter worth approximately $147,000. 42.43% of the stock is currently 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 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.