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

NexGen Energy Ltd. (NYSE:NXE) shares were down 3.8% during mid-day trading on Monday . The company traded as low as $8.52 and last traded at $8.54. Approximately 1,502,441 shares changed hands during trading, a decline of 74% from the average daily 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 report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus target price of $11.00.

NexGen Energy Trading Down 5.7 %

The stock has a 50-day simple moving average of $7.22 and a two-hundred day simple moving average of $6.86. The firm has a market capitalization of $4.73 billion, a P/E ratio of 59.20 and a beta of 1.90.

NexGen Energy (NYSE:NXE) last issued its earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). During the same quarter last year, the company earned ($0.04) earnings per share. As a group, research analysts expect that NexGen Energy Ltd. will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new position in shares of NexGen Energy in the 3rd quarter worth $6,585,000. CIBC Asset Management Inc raised its position in shares of NexGen Energy by 13.4% in the 3rd quarter. CIBC Asset Management Inc now owns 926,314 shares of the company’s stock worth $6,043,000 after acquiring an additional 109,754 shares in the last quarter. Rye Brook Capital LLC raised its position in shares of NexGen Energy by 18.7% in the 3rd quarter. Rye Brook Capital LLC now owns 695,000 shares of the company’s stock worth $4,538,000 after acquiring an additional 109,500 shares in the last quarter. Millennium Management LLC raised its position in shares of NexGen Energy by 109.6% in the 2nd quarter. Millennium Management LLC now owns 1,641,407 shares of the company’s stock worth $11,441,000 after acquiring an additional 858,471 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of NexGen Energy by 316.0% in the 1st quarter. Russell Investments Group Ltd. now owns 146,503 shares of the company’s stock worth $1,140,000 after acquiring an additional 111,283 shares in the last quarter. 42.43% of the stock is 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.