NexGen Energy (NYSE:NXE) Stock Price Down 7.9%

NexGen Energy Ltd. (NYSE:NXE)’s stock price traded down 7.9% on Thursday . The company traded as low as $6.13 and last traded at $6.14. 2,283,809 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 5,803,222 shares. The stock had previously closed at $6.67.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Haywood Securities upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Friday, May 17th. Ventum Cap Mkts raised shares of NexGen Energy to a “strong-buy” rating in a report on Monday, July 8th.

NexGen Energy Trading Down 12.3 %

The stock has a market capitalization of $3.30 billion, a PE ratio of -617.38 and a beta of 1.93. The firm’s fifty day moving average price is $7.04 and its two-hundred day moving average price is $7.47.

NexGen Energy (NYSE:NXE) last posted its earnings results on Wednesday, May 8th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). As a group, sell-side analysts anticipate that NexGen Energy Ltd. will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

A number of institutional investors have recently added to or reduced their stakes in NXE. Raymond James Financial Services Advisors Inc. grew its stake in NexGen Energy by 51.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 109,097 shares of the company’s stock valued at $764,000 after acquiring an additional 36,922 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in NexGen Energy by 7.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,505,360 shares of the company’s stock worth $179,307,000 after purchasing an additional 1,744,062 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in NexGen Energy by 1.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 248,783 shares of the company’s stock worth $1,744,000 after purchasing an additional 3,601 shares during the last quarter. Mackenzie Financial Corp boosted its stake in NexGen Energy by 39.8% during the 4th quarter. Mackenzie Financial Corp now owns 269,159 shares of the company’s stock worth $1,884,000 after purchasing an additional 76,568 shares during the last quarter. Finally, Canton Hathaway LLC boosted its stake in NexGen Energy by 492.9% during the 4th quarter. Canton Hathaway LLC now owns 43,875 shares of the company’s stock worth $307,000 after purchasing an additional 36,475 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

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.