NexGen Energy (NYSE:NXE) Shares Up 10.3% – Here’s What Happened

Posted by James Quigley on Jan 2nd, 2025

NexGen Energy Ltd. (NYSE:NXE – Get Free Report)’s share price was up 10.3% during mid-day trading on Thursday . The company traded as high as $7.32 and last traded at $7.28. Approximately 1,755,950 shares were traded during trading, a decline of 70% from the average daily volume of 5,850,524 shares. The stock had previously closed at $6.60.

NexGen Energy Price Performance

The company’s 50-day simple moving average is $7.60 and its 200-day simple moving average is $6.89. The stock has a market capitalization of $4.18 billion, a P/E ratio of 49.20 and a beta of 1.91.

NexGen Energy (NYSE:NXE – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). During the same quarter in the previous year, the company posted ($0.04) earnings per share. On average, analysts forecast that NexGen Energy Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

Hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new position in NexGen Energy during the 2nd quarter worth $33,000. DekaBank Deutsche Girozentrale purchased a new position in NexGen Energy during the third quarter worth about $76,000. SevenBridge Financial Group LLC purchased a new stake in NexGen Energy in the 3rd quarter valued at about $87,000. New Harbor Financial Group LLC lifted its position in shares of NexGen Energy by 20.0% during the 3rd quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock worth $98,000 after buying an additional 2,500 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of NexGen Energy in the 3rd quarter worth approximately $98,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

About NexGen Energy

(Get Free Report)

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.