Traders Purchase Large Volume of NexGen Energy Put Options (NYSE:NXE)

NexGen Energy (NYSE:NXE) saw unusually large options trading activity on Wednesday. Stock traders bought 10,419 put options on the company. This represents an increase of 37% compared to the typical daily volume of 7,581 put options.

Hedge Funds Weigh In On NexGen Energy

Hedge funds have recently made changes to their positions in the business. L1 Capital Pty Ltd lifted its stake in NexGen Energy by 9.1% during the fourth quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company’s stock valued at $309,145,000 after purchasing an additional 2,804,090 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NexGen Energy by 4.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock valued at $274,103,000 after buying an additional 1,189,516 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of NexGen Energy by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock valued at $268,240,000 after buying an additional 5,523,932 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 last quarter. Finally, Millennium Management LLC lifted its position in shares of 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 last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Trading Up 0.1%

NYSE:NXE traded up $0.01 during mid-day trading on Wednesday, reaching $9.10. 1,889,258 shares of the stock were exchanged, compared to its average volume of 7,437,402. The business has a fifty day moving average price of $10.87 and a 200 day moving average price of $11.36. The firm has a market capitalization of $6.09 billion, a PE ratio of -18.58 and a beta of 1.39. NexGen Energy has a 1-year low of $6.26 and a 1-year high of $13.96.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Weiss Ratings reissued 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 issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

NexGen Energy Company Profile

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.