NexGen Energy (NYSE:NXE) Stock Price Down 7.9%

NexGen Energy Ltd. (NYSE:NXE)’s stock price dropped 7.9% during mid-day trading on Thursday . The company traded as low as $6.13 and last traded at $6.14. Approximately 2,283,809 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 5,803,222 shares. The stock had previously closed at $6.67.

Analyst Ratings Changes

NXE has been the topic of a number of research analyst reports. Haywood Securities raised NexGen Energy to a “strong-buy” rating in a research note on Friday, May 17th. Ventum Cap Mkts raised NexGen Energy to a “strong-buy” rating in a research note on Monday, July 8th.

NexGen Energy Trading Down 12.3 %

The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -617.38 and a beta of 1.93. The firm has a 50 day moving average price of $7.04 and a two-hundred day moving average price of $7.47.

NexGen Energy (NYSE:NXE) last announced its earnings results on Wednesday, May 8th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). As a group, research analysts forecast that NexGen Energy Ltd. will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NXE. Mirae Asset Global Investments Co. Ltd. boosted its position in NexGen Energy by 7.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,505,360 shares of the company’s stock worth $179,307,000 after acquiring an additional 1,744,062 shares during the period. Swiss National Bank boosted its position in NexGen Energy by 12.9% during the 1st quarter. Swiss National Bank now owns 989,000 shares of the company’s stock worth $7,686,000 after acquiring an additional 112,700 shares during the period. Van ECK Associates Corp boosted its position in NexGen Energy by 23.3% during the 1st quarter. Van ECK Associates Corp now owns 1,852,355 shares of the company’s stock worth $14,395,000 after acquiring an additional 350,017 shares during the period. Southland Equity Partners LLC boosted its position in NexGen Energy by 22.0% during the 1st quarter. Southland Equity Partners LLC now owns 21,327 shares of the company’s stock worth $166,000 after acquiring an additional 3,840 shares during the period. Finally, Bornite Capital Management LP acquired a new position in NexGen Energy during the 4th quarter worth $3,630,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.