NexGen Energy (NYSE:NXE) Announces Earnings Results

NexGen Energy (NYSE:NXE) released its earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01), reports. During the same quarter in the prior year, the firm earned ($0.04) earnings per share.

NexGen Energy Stock Performance

Shares of NXE opened at $7.38 on Friday. The firm has a market cap of $4.17 billion, a PE ratio of 738.74 and a beta of 1.90. The firm’s 50 day moving average price is $6.75 and its 200 day moving average price is $6.88. NexGen Energy has a twelve month low of $4.95 and a twelve month high of $8.88.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NXE. Vanguard Group Inc. increased its position in NexGen Energy by 5,020.5% during the first quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company’s stock worth $126,047,000 after buying an additional 15,905,444 shares during the last quarter. MMCAP International Inc. SPC raised its stake in shares of NexGen Energy by 1,627.2% in the 1st quarter. MMCAP International Inc. SPC now owns 3,564,665 shares of the company’s stock valued at $27,697,000 after acquiring an additional 3,358,278 shares in the last quarter. Van ECK Associates Corp lifted its holdings in NexGen Energy by 50.5% in the 3rd quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company’s stock worth $30,810,000 after purchasing an additional 1,582,705 shares during the last quarter. L1 Capital Pty Ltd grew its holdings in NexGen Energy by 6.3% during the first quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company’s stock valued at $187,127,000 after purchasing an additional 1,423,317 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of NexGen Energy by 411.2% in the second quarter. Mackenzie Financial Corp now owns 1,530,574 shares of the company’s stock valued at $10,675,000 after purchasing an additional 1,231,144 shares during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised shares of NexGen Energy to a “strong-buy” rating in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, NexGen Energy currently has an average rating of “Strong Buy” and a consensus price target of $11.00.

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 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.