NexGen Energy (NYSE:NXE) Trading Down 3.8% – Should You Sell?

Shares of NexGen Energy Ltd. (NYSE:NXE) were down 3.8% during trading on Monday . The stock traded as low as $8.52 and last traded at $8.54. Approximately 1,502,441 shares were traded during trading, a decline of 74% from the average daily volume of 5,816,204 shares. The stock had previously closed at $8.88.

Analysts Set New Price Targets

Separately, National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a 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 company. Based on data from MarketBeat.com, NexGen Energy currently has a consensus rating of “Strong Buy” and a consensus price target of $11.00.

NexGen Energy Stock Down 0.1 %

The company has a fifty day moving average price of $7.37 and a 200 day moving average price of $6.88. The stock has a market cap of $4.69 billion, a PE ratio of 55.37 and a beta of 1.90.

NexGen Energy (NYSE:NXE) last announced 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 period last year, the firm earned ($0.04) earnings per share. As a group, research analysts predict that NexGen Energy Ltd. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On NexGen Energy

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

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.