NexGen Energy (NYSE:NXE) Trading Down 8.1%

NexGen Energy Ltd. (NYSE:NXE)’s stock price traded down 8.1% during mid-day trading on Wednesday . The company traded as low as $8.00 and last traded at $8.04. 3,592,672 shares were traded during mid-day trading, a decline of 43% from the average session volume of 6,294,134 shares. The stock had previously closed at $8.75.

Wall Street Analysts Forecast Growth

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

NexGen Energy Price Performance

The company has a 50-day moving average of $7.83 and a two-hundred day moving average of $7.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 11.00 and a quick ratio of 11.00. The stock has a market capitalization of $4.32 billion, a PE ratio of 407.70 and a beta of 1.90.

NexGen Energy (NYSE:NXE) last released its earnings results on Wednesday, March 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Sell-side analysts predict that NexGen Energy Ltd. will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. MMCAP International Inc. SPC lifted its stake in shares of NexGen Energy by 1,627.2% during the first quarter. MMCAP International Inc. SPC now owns 3,564,665 shares of the company’s stock worth $27,697,000 after purchasing an additional 3,358,278 shares in the last quarter. Anthracite Investment Company Inc. increased its position in shares of NexGen Energy by 5.3% in the 1st quarter. Anthracite Investment Company Inc. now owns 1,219,537 shares of the company’s stock worth $9,476,000 after purchasing an additional 61,317 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of NexGen Energy by 316.0% during the first quarter. Russell Investments Group Ltd. now owns 146,503 shares of the company’s stock worth $1,140,000 after purchasing an additional 111,283 shares during the last quarter. Sei Investments Co. acquired a new position in NexGen Energy in the first quarter worth $1,028,000. Finally, Swiss National Bank raised its stake in NexGen Energy by 12.9% during the first quarter. Swiss National Bank now owns 989,000 shares of the company’s stock worth $7,686,000 after acquiring an additional 112,700 shares during the period. Hedge funds and other 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 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.