NexGen Energy (NYSE:NXE) Reaches New 1-Year High – Time to Buy?

NexGen Energy (NYSE:NXE) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.95 and last traded at $9.9450, with a volume of 5840050 shares traded. The stock had previously closed at $9.31.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NXE. Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th. TD Securities restated a “buy” rating on shares of NexGen Energy in a report on Friday, August 8th. Finally, Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

NexGen Energy Stock Up 6.8%

The stock has a market capitalization of $6.51 billion, a P/E ratio of -24.26 and a beta of 1.54. The company has a fifty day simple moving average of $8.73 and a two-hundred day simple moving average of $7.59.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). As a group, equities analysts forecast that NexGen Energy will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its holdings in shares of NexGen Energy by 21.3% in the first quarter. Cetera Investment Advisers now owns 126,918 shares of the company’s stock valued at $570,000 after purchasing an additional 22,307 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in NexGen Energy by 7.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 185,416 shares of the company’s stock valued at $831,000 after buying an additional 12,459 shares during the last quarter. Mackenzie Financial Corp lifted its stake in NexGen Energy by 1.3% in the 1st quarter. Mackenzie Financial Corp now owns 233,457 shares of the company’s stock valued at $1,046,000 after acquiring an additional 2,933 shares in the last quarter. ABC Arbitrage SA acquired a new position in NexGen Energy during the 1st quarter worth approximately $177,000. Finally, Legacy Capital Group California Inc. boosted its position in NexGen Energy by 31.5% during the 1st quarter. Legacy Capital Group California Inc. now owns 51,793 shares of the company’s stock worth $233,000 after acquiring an additional 12,402 shares during the last quarter. Institutional investors 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 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.