NexGen Energy (NYSEAMERICAN:NXE) Sees Strong Trading Volume

NexGen Energy Ltd. (NYSEAMERICAN:NXE) saw an uptick in trading volume on Wednesday . 84,349 shares changed hands during trading, a decline of 96% from the previous session’s volume of 1,928,745 shares.The stock last traded at $5.81 and had previously closed at $5.65.

Several research firms have issued reports on NXE. Zacks Investment Research downgraded NexGen Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 10th. Raymond James increased their target price on NexGen Energy from C$6.25 to C$7.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 7th. Finally, Royal Bank of Canada cut NexGen Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 target price on the stock. in a research note on Wednesday, June 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.39.

The company has a market cap of $2.78 billion, a PE ratio of -17.61 and a beta of 2.10. The company has a quick ratio of 41.31, a current ratio of 41.31 and a debt-to-equity ratio of 0.13.

NexGen Energy (NYSEAMERICAN:NXE) last announced its quarterly earnings data on Wednesday, August 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). As a group, equities analysts predict that NexGen Energy Ltd. will post -0.17 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of NXE. Pinz Capital Management LP purchased a new stake in NexGen Energy in the first quarter worth about $36,000. Minot Wealth Management LLC purchased a new stake in NexGen Energy in the second quarter worth about $40,000. Bank of New York Mellon Corp purchased a new stake in NexGen Energy in the first quarter worth about $45,000. Guardian Capital Advisors LP purchased a new stake in NexGen Energy in the second quarter worth about $52,000. Finally, Scotia Capital Inc. purchased a new stake in NexGen Energy in the first quarter worth about $54,000. 18.24% of the stock is currently owned by institutional investors.

About NexGen Energy (NYSEAMERICAN:NXE)

NexGen Energy Ltd. engages in the acquisition, exploration, and development of uranium properties. Its uranium project portfolio includes Arrow, South Arrow, Harpoon, Rook I, IsoEnergy, and SW1 property. The company was founded by Leigh B. Curyer on March 8, 2011 and is headquartered in Vancouver, Canada.

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