NexGen Energy (NYSE:NXE) Shares Gap Up - Should You Buy?

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.92, but opened at $8.15. NexGen Energy shares last traded at $8.48, with a volume of 2,231,627 shares traded.

Wall Street Analysts Forecast Growth

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

NexGen Energy Trading Up 7.0 %

The firm has a 50-day moving average of $7.04 and a two-hundred day moving average of $6.85. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 56.50 and a beta of 1.90.

NexGen Energy (NYSE:NXE - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). During the same quarter in the previous year, the business posted ($0.04) EPS. As a group, equities analysts anticipate that NexGen Energy Ltd. will post -0.06 EPS for the current year.

Institutional Trading of NexGen Energy

A number of hedge funds have recently modified their holdings of NXE. L1 Capital Pty Ltd raised its stake in NexGen Energy by 6.3% during the first quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company's stock worth $187,127,000 after acquiring an additional 1,423,317 shares in the last quarter. Vanguard Group Inc. grew its position in NexGen Energy by 5,020.5% during the 1st quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company's stock worth $126,047,000 after acquiring an additional 15,905,444 shares during the last quarter. Segra Capital Management LLC grew its holdings in shares of NexGen Energy by 19.8% during the third quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company's stock worth $76,217,000 after purchasing an additional 1,931,200 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in NexGen Energy by 792.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company's stock valued at $46,434,000 after acquiring an additional 6,317,538 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of NexGen Energy by 50.5% in the third quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company's stock valued at $30,810,000 after purchasing an additional 1,582,705 shares in the last quarter. Institutional investors own 42.43% of the company's stock.

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.