Investors Buy High Volume of Call Options on NexGen Energy (NYSE:NXE)

NexGen Energy (NYSE:NXE) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 12,558 call options on the stock. This represents an increase of 62% compared to the average daily volume of 7,751 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NXE. L1 Capital Pty Ltd lifted its holdings in shares of NexGen Energy by 9.1% during the fourth quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company’s stock worth $309,145,000 after purchasing an additional 2,804,090 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NexGen Energy by 4.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock worth $274,103,000 after buying an additional 1,189,516 shares during the period. Van ECK Associates Corp raised its position in NexGen Energy by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock worth $268,240,000 after buying an additional 5,523,932 shares during the last quarter. Vanguard Group Inc. lifted its stake in NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock valued at $226,901,000 after acquiring an additional 3,304,071 shares during the period. Finally, Millennium Management LLC lifted its stake in NexGen Energy by 97.8% during the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock valued at $90,718,000 after acquiring an additional 5,011,890 shares during the period. 42.43% of the stock is owned by institutional investors and hedge funds.

NexGen Energy Stock Performance

Shares of NYSE NXE opened at $9.26 on Thursday. The business has a 50-day simple moving average of $10.51 and a two-hundred day simple moving average of $11.36. The company has a market cap of $6.20 billion, a PE ratio of -18.90 and a beta of 1.39. NexGen Energy has a fifty-two week low of $6.26 and a fifty-two week high of $13.96.

Analyst Ratings Changes

Several brokerages have issued reports on NXE. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company 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.