NexGen Energy (NYSE:NXE) Announces Earnings Results, Beats Expectations By $0.01 EPS

NexGen Energy (NYSE:NXE) issued its quarterly earnings results on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01, Zacks reports.

NexGen Energy Stock Down 4.0%

NXE traded down $0.52 during trading on Thursday, reaching $12.37. The company had a trading volume of 8,507,183 shares, compared to its average volume of 8,071,363. The business has a 50 day simple moving average of $12.09 and a 200-day simple moving average of $10.75. NexGen Energy has a 52 week low of $5.29 and a 52 week high of $13.96. The stock has a market cap of $8.17 billion, a P/E ratio of -25.23 and a beta of 1.39.

Institutional Trading of NexGen Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthspire Retirement LLC purchased a new stake in NexGen Energy in the fourth quarter worth $143,000. Mackenzie Financial Corp increased its stake in NexGen Energy by 87.4% in the fourth quarter. Mackenzie Financial Corp now owns 554,087 shares of the company’s stock worth $5,039,000 after purchasing an additional 258,415 shares during the period. Regal Partners Ltd increased its stake in NexGen Energy by 412.5% in the fourth quarter. Regal Partners Ltd now owns 205,000 shares of the company’s stock worth $1,886,000 after purchasing an additional 165,000 shares during the period. NewEdge Advisors LLC increased its stake in NexGen Energy by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 176,900 shares of the company’s stock worth $1,627,000 after purchasing an additional 8,693 shares during the period. Finally, Wellington Management Group LLP increased its stake in NexGen Energy by 165.8% in the fourth quarter. Wellington Management Group LLP now owns 1,691,552 shares of the company’s stock worth $15,566,000 after purchasing an additional 1,055,076 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NXE shares. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a research report on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a research report on Wednesday, January 14th. Finally, UBS Group started coverage on NexGen Energy in a research report on Thursday, March 5th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NexGen Energy has an average rating of “Moderate Buy”.

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.