Investors Buy High Volume of Call Options on NexGen Energy (NYSE:NXE)

NexGen Energy (NYSE:NXE) saw some unusual options trading on Tuesday. Investors bought 29,814 call options on the company. This represents an increase of 90% compared to the typical volume of 15,684 call options.

NexGen Energy Price Performance

Shares of NexGen Energy stock traded down $0.48 during midday trading on Tuesday, reaching $8.66. The company had a trading volume of 7,714,663 shares, compared to its average volume of 9,454,891. The stock has a fifty day moving average price of $8.55 and a 200 day moving average price of $7.12. NexGen Energy has a fifty-two week low of $3.91 and a fifty-two week high of $9.95. The firm has a market cap of $5.66 billion, a PE ratio of -34.63 and a beta of 1.44.

NexGen Energy (NYSE:NXE) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). As a group, sell-side analysts forecast that NexGen Energy will post -0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NXE shares. TD Securities reaffirmed a “buy” rating on shares of NexGen Energy in a report on Friday, August 8th. Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. L1 Capital Pty Ltd raised its holdings in NexGen Energy by 10.3% during the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock worth $234,683,000 after purchasing an additional 3,171,558 shares during the last quarter. Vanguard Group Inc. raised its holdings in NexGen Energy by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 20,956,792 shares of the company’s stock worth $93,928,000 after purchasing an additional 520,279 shares during the last quarter. Alps Advisors Inc. raised its holdings in NexGen Energy by 8.3% during the 1st quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company’s stock worth $76,535,000 after purchasing an additional 1,299,255 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in NexGen Energy by 18.0% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,219,454 shares of the company’s stock worth $63,918,000 after purchasing an additional 1,407,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in NexGen Energy by 1.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,220,545 shares of the company’s stock worth $32,317,000 after purchasing an additional 98,128 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

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.