NexGen Energy Ltd. (NYSE:NXE) Short Interest Up 25.0% in March

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 77,450,000 shares, a growth of 25.0% from the March 15th total of 61,960,000 shares. Currently, 14.4% of the company's stock are short sold. Based on an average daily volume of 9,980,000 shares, the days-to-cover ratio is currently 7.8 days.

Wall Street Analyst Weigh In

NXE has been the topic of several research reports. Raymond James reissued an "outperform" rating on shares of NexGen Energy in a research report on Friday, April 4th. Stifel Nicolaus assumed coverage on shares of NexGen Energy in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Stifel Canada raised shares of NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th. Three investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy".

Institutional Investors Weigh In On NexGen Energy

Several institutional investors and hedge funds have recently modified their holdings of NXE. JPMorgan Chase & Co. raised its position in shares of NexGen Energy by 222.6% during the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock valued at $41,882,000 after buying an additional 4,378,933 shares during the last quarter. Van ECK Associates Corp raised its position in shares of NexGen Energy by 79.7% during the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock valued at $55,971,000 after buying an additional 3,762,756 shares during the last quarter. Packer & Co Ltd bought a new stake in shares of NexGen Energy during the first quarter valued at approximately $13,581,000. Bank of New York Mellon Corp increased its position in NexGen Energy by 954.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,876,558 shares of the company's stock worth $12,385,000 after purchasing an additional 1,698,649 shares during the last quarter. Finally, Marshall Wace LLP increased its position in NexGen Energy by 131.8% in the fourth quarter. Marshall Wace LLP now owns 2,224,419 shares of the company's stock worth $14,681,000 after purchasing an additional 1,264,655 shares during the last quarter. Institutional investors own 42.43% of the company's stock.

NexGen Energy Stock Up 2.7 %

NYSE:NXE traded up $0.14 during trading hours on Thursday, hitting $5.08. 3,778,475 shares of the stock traded hands, compared to its average volume of 6,907,614. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $8.96. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 33.84 and a beta of 2.02. The stock has a 50 day moving average price of $4.87 and a 200 day moving average price of $6.47.

NexGen Energy Company Profile

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.