NexGen Energy Target of Unusually High Options Trading (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) was the target of some unusual options trading on Wednesday. Stock investors bought 20,824 call options on the company. This is an increase of 80% compared to the typical volume of 11,548 call options.

NexGen Energy Trading Up 1.4 %

Shares of NYSE:NXE opened at $4.81 on Thursday. The stock has a market cap of $2.73 billion, a PE ratio of 32.04 and a beta of 1.97. The stock’s fifty day simple moving average is $6.23 and its two-hundred day simple moving average is $6.79. NexGen Energy has a 1-year low of $4.44 and a 1-year high of $8.96.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds have recently bought and sold shares of NXE. The Manufacturers Life Insurance Company boosted its holdings in NexGen Energy by 792.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock worth $46,434,000 after acquiring an additional 6,317,538 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in NexGen Energy by 222.6% during the 4th quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company’s stock worth $41,882,000 after acquiring an additional 4,378,933 shares during the last quarter. Van ECK Associates Corp boosted its holdings in NexGen Energy by 79.7% during the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock worth $55,971,000 after acquiring an additional 3,762,756 shares during the last quarter. Mountaineer Partners Management LLC boosted its holdings in NexGen Energy by 536.6% during the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock worth $24,071,000 after acquiring an additional 3,107,214 shares during the last quarter. Finally, Segra Capital Management LLC boosted its holdings in NexGen Energy by 19.8% during the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock worth $76,217,000 after acquiring an additional 1,931,200 shares during the last quarter. 42.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NXE has been the subject of a number of research analyst reports. Stifel Nicolaus initiated coverage on NexGen Energy in a research report on Wednesday. They issued a “buy” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, NexGen Energy currently has a consensus rating of “Strong Buy”.

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.