NexGen Energy (NYSE:NXE) Trading Down 6.2%

NexGen Energy Ltd. (NYSE:NXE)’s stock price traded down 6.2% during trading on Tuesday . The company traded as low as $7.90 and last traded at $7.93. 1,810,817 shares were traded during mid-day trading, a decline of 71% from the average session volume of 6,238,408 shares. The stock had previously closed at $8.45.

Wall Street Analyst Weigh In

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

NexGen Energy Price Performance

The company has a market cap of $4.16 billion, a P/E ratio of 396.20 and a beta of 1.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 11.00 and a current ratio of 11.00. The firm’s fifty day moving average is $7.67 and its two-hundred day moving average is $7.09.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, March 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). As a group, analysts anticipate that NexGen Energy Ltd. will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of NexGen Energy

Hedge funds have recently made changes to their positions in the business. Triasima Portfolio Management inc. raised its holdings in shares of NexGen Energy by 182.9% in the first quarter. Triasima Portfolio Management inc. now owns 703,809 shares of the company’s stock worth $5,471,000 after buying an additional 455,026 shares during the last quarter. HTLF Bank grew its position in shares of NexGen Energy by 1.6% in the first quarter. HTLF Bank now owns 126,426 shares of the company’s stock valued at $982,000 after purchasing an additional 2,000 shares during the period. U S Global Investors Inc. acquired a new position in NexGen Energy during the first quarter worth about $194,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in NexGen Energy during the first quarter worth about $390,000. Finally, Avalon Capital Management raised its stake in NexGen Energy by 8.3% during the first quarter. Avalon Capital Management now owns 54,671 shares of the company’s stock worth $425,000 after purchasing an additional 4,173 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 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.