NexGen Energy (NYSE:NXE) Shares Up 5.3% – Here’s Why

Shares of NexGen Energy Ltd. (NYSE:NXE) were up 5.3% on Wednesday . The company traded as high as $6.66 and last traded at $6.66. Approximately 2,348,938 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 8,097,163 shares. The stock had previously closed at $6.32.

NexGen Energy Price Performance

The firm has a market capitalization of $3.74 billion, a P/E ratio of 43.76 and a beta of 1.96. The firm has a 50-day moving average price of $7.35 and a two-hundred day moving average price of $6.87.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). During the same quarter in the prior year, the company posted ($0.04) EPS. Sell-side analysts predict that NexGen Energy Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

Hedge funds have recently made changes to their positions in the company. Segra Capital Management LLC raised its holdings in shares of NexGen Energy by 19.8% in the third quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after acquiring an additional 1,931,200 shares in the last quarter. Van ECK Associates Corp increased its position in NexGen Energy by 79.7% during the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock valued at $55,971,000 after purchasing an additional 3,762,756 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of NexGen Energy by 792.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock valued at $46,434,000 after purchasing an additional 6,317,538 shares in the last quarter. Mountaineer Partners Management LLC raised its holdings in shares of NexGen Energy by 536.6% in the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock valued at $24,071,000 after purchasing an additional 3,107,214 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC lifted its position in shares of NexGen Energy by 18.0% in the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,022,615 shares of the company’s stock worth $19,738,000 after purchasing an additional 461,185 shares during the period. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

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.