NexGen Energy (NYSE:NXE) Posts Earnings Results, Beats Expectations By $0.01 EPS

NexGen Energy (NYSE:NXE) announced its quarterly earnings data on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01, Zacks reports.

NexGen Energy Stock Down 2.8%

Shares of NXE stock traded down $0.35 during trading on Tuesday, reaching $12.11. 6,067,315 shares of the company’s stock were exchanged, compared to its average volume of 5,237,121. NexGen Energy has a twelve month low of $5.16 and a twelve month high of $13.96. The firm’s fifty day moving average price is $12.09 and its 200-day moving average price is $10.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NXE. Flow Traders U.S. LLC acquired a new position in shares of NexGen Energy during the 2nd quarter worth approximately $76,000. Jump Financial LLC acquired a new position in shares of NexGen Energy during the 4th quarter worth approximately $93,000. First Trust Advisors LP acquired a new position in shares of NexGen Energy during the 3rd quarter worth approximately $94,000. Wright Wealth LLC acquired a new position in shares of NexGen Energy during the 4th quarter worth approximately $97,000. Finally, Magnetar Financial LLC acquired a new position in shares of NexGen Energy during the 3rd quarter worth approximately $112,000. 42.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NXE. UBS Group began coverage on NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating on the stock. Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a research note on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NexGen Energy has a consensus rating of “Moderate Buy”.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.