NexGen Energy (NYSE:NXE) Trading Up 5.6% – What’s Next?

NexGen Energy Ltd. (NYSE:NXE) rose 5.6% on Wednesday . The company traded as high as $4.80 and last traded at $4.80. Approximately 3,864,131 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 9,913,725 shares. The stock had previously closed at $4.54.

Analysts Set New Price Targets

NXE has been the subject of several analyst reports. Raymond James restated an “outperform” rating on shares of NexGen Energy in a research note on Friday, April 4th. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Stifel Nicolaus began coverage on NexGen Energy in a research note on Wednesday, March 12th. They issued a “buy” rating on the stock. Finally, Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Three analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NexGen Energy presently has an average rating of “Strong Buy”.

NexGen Energy Stock Up 1.4 %

The stock has a 50 day moving average of $5.00 and a 200 day moving average of $6.52. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 31.57 and a beta of 2.02.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of NexGen Energy in the 3rd quarter worth about $852,000. Barclays PLC lifted its holdings in NexGen Energy by 328.3% in the third quarter. Barclays PLC now owns 187,861 shares of the company’s stock worth $1,227,000 after acquiring an additional 143,996 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in NexGen Energy in the third quarter valued at approximately $98,000. Harbour Capital Advisors LLC acquired a new position in NexGen Energy in the fourth quarter valued at approximately $413,000. Finally, Janney Montgomery Scott LLC raised its position in shares of NexGen Energy by 10.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock worth $101,000 after purchasing an additional 1,500 shares during the period. 42.43% of the stock is owned by institutional investors and hedge funds.

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.