NexGen Energy (NYSE:NXE) Shares Down 3.8% – Time to Sell?

NexGen Energy Ltd. (NYSE:NXE)’s stock price traded down 3.8% during mid-day trading on Monday . The stock traded as low as $8.52 and last traded at $8.54. 1,502,441 shares traded hands during trading, a decline of 74% from the average session volume of 5,816,204 shares. The stock had previously closed at $8.88.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NexGen Energy has a consensus rating of “Strong Buy” and a consensus price target of $11.00.

NexGen Energy Stock Performance

The firm has a market cap of $4.73 billion, a PE ratio of 59.20 and a beta of 1.90. The firm has a fifty day simple moving average of $7.22 and a two-hundred day simple moving average of $6.86.

NexGen Energy (NYSE:NXE) last released 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 quarter last year, the firm posted ($0.04) earnings per share. Equities analysts forecast that NexGen Energy Ltd. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Advisors LLC boosted its holdings in shares of NexGen Energy by 2.3% in the 1st quarter. Cetera Advisors LLC now owns 81,873 shares of the company’s stock worth $637,000 after purchasing an additional 1,874 shares during the period. New Harbor Financial Group LLC boosted its holdings in shares of NexGen Energy by 20.0% in the 3rd quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock worth $98,000 after purchasing an additional 2,500 shares during the period. Investment Management Corp of Ontario boosted its holdings in shares of NexGen Energy by 14.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company’s stock worth $164,000 after purchasing an additional 3,200 shares during the period. Stanley Laman Group Ltd. boosted its holdings in shares of NexGen Energy by 0.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 480,049 shares of the company’s stock worth $3,351,000 after purchasing an additional 3,315 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in NexGen Energy by 24.6% during the 2nd quarter. Toronto Dominion Bank now owns 21,980 shares of the company’s stock valued at $153,000 after acquiring an additional 4,338 shares during the period. Hedge funds and other institutional investors 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 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.