NexGen Energy (NYSE:NXE) Reaches New 12-Month High – What’s Next?

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on NXE. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Wednesday, January 14th. Zacks Research raised shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NexGen Energy has an average rating of “Moderate Buy”.

NexGen Energy Price Performance

The company has a market capitalization of $7.91 billion, a P/E ratio of -29.23 and a beta of 1.43. The company’s 50-day moving average price is $9.43 and its two-hundred day moving average price is $8.43.

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

Institutional Investors Weigh In On NexGen Energy

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc increased its position in 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 acquiring an additional 2,875 shares during the period. CWM LLC bought a new position in shares of NexGen Energy during the third quarter worth approximately $41,000. Canton Hathaway LLC acquired a new stake in shares of NexGen Energy in the second quarter valued at approximately $57,000. Olympiad Research LP bought a new stake in shares of NexGen Energy in the second quarter valued at approximately $73,000. Finally, Flow Traders U.S. LLC acquired a new stake in NexGen Energy during the second quarter worth approximately $76,000. Institutional investors own 42.43% of the company’s stock.

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.