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

NexGen Energy Ltd. (NYSE:NXE) was the target of unusually large options trading on Monday. Stock traders purchased 40,170 put options on the company. This is an increase of 256% compared to the typical volume of 11,273 put options.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NXE. JPMorgan Chase & Co. lifted its holdings in shares of NexGen Energy by 222.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company’s stock worth $41,882,000 after buying an additional 4,378,933 shares in the last quarter. Van ECK Associates Corp increased its holdings in NexGen Energy by 79.7% during the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock worth $55,971,000 after acquiring an additional 3,762,756 shares during the period. Mountaineer Partners Management LLC lifted its stake in NexGen Energy by 536.6% in the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock worth $24,071,000 after purchasing an additional 3,107,214 shares in the last quarter. Segra Capital Management LLC boosted its holdings in NexGen Energy by 19.8% in the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after purchasing an additional 1,931,200 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of NexGen Energy by 954.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,876,558 shares of the company’s stock valued at $12,385,000 after purchasing an additional 1,698,649 shares in the last quarter. Institutional investors own 42.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NXE. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Canada upgraded shares of NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Stifel Nicolaus began coverage on shares of NexGen Energy in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Buy”.

NexGen Energy Trading Down 1.4 %

Shares of NYSE NXE traded down $0.07 during mid-day trading on Monday, hitting $4.49. The company had a trading volume of 11,362,002 shares, compared to its average volume of 6,595,729. NexGen Energy has a 1 year low of $4.31 and a 1 year high of $8.96. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 29.90 and a beta of 1.97. The stock’s 50-day moving average price is $5.68 and its 200-day moving average price is $6.72.

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.