NexGen Energy (NYSE:NXE) Trading Down 4.7% - Should You Sell?

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) was down 4.7% during mid-day trading on Tuesday . The stock traded as low as $4.92 and last traded at $4.93. Approximately 3,898,543 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 9,683,332 shares. The stock had previously closed at $5.17.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stifel Canada upgraded shares of NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a research report on Thursday, March 6th. Finally, Stifel Nicolaus initiated coverage on NexGen Energy in a research report on Wednesday, March 12th. They set a "buy" rating for the company. Two analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

NexGen Energy Stock Down 5.9 %

The firm has a market cap of $2.58 billion, a P/E ratio of 30.24 and a beta of 1.97. The firm's 50-day simple moving average is $5.72 and its 200 day simple moving average is $6.72.

Institutional Trading of NexGen Energy

Hedge funds have recently made changes to their positions in the company. PKO Investment Management Joint Stock Co bought a new position in NexGen Energy during the fourth quarter worth about $574,000. Mackenzie Financial Corp lifted its stake in NexGen Energy by 15.5% in the 4th quarter. Mackenzie Financial Corp now owns 230,524 shares of the company's stock worth $1,519,000 after purchasing an additional 31,002 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of NexGen Energy by 3.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 134,655 shares of the company's stock worth $888,000 after buying an additional 4,176 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of NexGen Energy by 38.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 623,857 shares of the company's stock valued at $4,117,000 after acquiring an additional 172,499 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in NexGen Energy by 100.3% in the 4th quarter. Tidal Investments LLC now owns 62,617 shares of the company's stock worth $413,000 after buying an additional 31,362 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors.

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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.