NexGen Energy (NYSE:NXE) Trading Up 5.3% – What’s Next?

NexGen Energy Ltd. (NYSE:NXE)’s stock price rose 5.3% during mid-day trading on Wednesday . The stock traded as high as $6.66 and last traded at $6.66. Approximately 2,348,938 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 8,097,163 shares. The stock had previously closed at $6.32.

NexGen Energy Trading Up 6.6 %

The company has a market capitalization of $3.83 billion, a P/E ratio of 44.90 and a beta of 1.96. The company’s 50 day moving average is $7.42 and its 200-day moving average is $6.88.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). During the same period in the prior year, the firm posted ($0.04) earnings per share. Analysts predict that NexGen Energy Ltd. will post -0.05 EPS for the current fiscal year.

Institutional Trading of NexGen Energy

Several institutional investors have recently added to or reduced their stakes in NXE. Segra Capital Management LLC raised its holdings in shares of NexGen Energy by 19.8% during the third quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after purchasing an additional 1,931,200 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in NexGen Energy by 792.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock worth $46,434,000 after purchasing an additional 6,317,538 shares during the period. Van ECK Associates Corp raised its stake in NexGen Energy by 50.5% during the 3rd quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company’s stock valued at $30,810,000 after buying an additional 1,582,705 shares during the last quarter. Mountaineer Partners Management LLC lifted its holdings in shares of NexGen Energy by 536.6% during the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock valued at $24,071,000 after buying an additional 3,107,214 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC lifted its holdings in shares of NexGen Energy by 18.0% during the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,022,615 shares of the company’s stock valued at $19,738,000 after buying an additional 461,185 shares during the period. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

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.