NexGen Energy (NYSE:NXE) Shares Gap Up – Time to Buy?

NexGen Energy Ltd. (NYSE:NXE) shares gapped up before the market opened on Tuesday . The stock had previously closed at $6.02, but opened at $6.27. NexGen Energy shares last traded at $6.35, with a volume of 2,739,909 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NXE shares. Raymond James reiterated an “outperform” rating on shares of NexGen Energy in a research note on Friday, April 4th. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research note on Thursday, March 6th. Stifel Canada upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus started coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They set a “buy” rating for the company. Three research 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.com, the company currently has a consensus rating of “Strong Buy”.

NexGen Energy Trading Up 0.6%

The stock has a market capitalization of $3.65 billion, a PE ratio of 42.74 and a beta of 1.54. The firm has a 50 day moving average price of $5.21 and a 200 day moving average price of $6.11.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). On average, equities research analysts expect that NexGen Energy Ltd. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On NexGen Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NexGen Energy by 13.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock worth $3,166,000 after purchasing an additional 81,167 shares in the last quarter. Caxton Associates LLP bought a new position in NexGen Energy in the 1st quarter worth $165,000. Goldman Sachs Group Inc. boosted its holdings in NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock worth $13,412,000 after buying an additional 36,510 shares during the period. PenderFund Capital Management Ltd. boosted its holdings in NexGen Energy by 45.0% in the 1st quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company’s stock worth $52,000 after buying an additional 3,600 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in NexGen Energy by 7.3% in the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock worth $680,000 after buying an additional 10,266 shares during the period. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

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.