NexGen Energy Target of Unusually Large Options Trading (NYSE:NXE)

NexGen Energy (NYSE:NXE) saw unusually large options trading activity on Friday. Stock traders purchased 38,697 call options on the stock. This represents an increase of 98% compared to the average daily volume of 19,495 call options.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NXE. Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a report on Wednesday. Zacks Research upgraded shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

NexGen Energy Stock Up 1.5%

Shares of NexGen Energy stock traded up $0.18 on Friday, hitting $11.90. 4,442,783 shares of the company’s stock traded hands, compared to its average volume of 7,686,641. NexGen Energy has a 52-week low of $3.91 and a 52-week high of $12.19. The stock has a market cap of $7.85 billion, a P/E ratio of -29.01 and a beta of 1.43. The firm’s 50-day moving average is $9.24 and its 200 day moving average is $8.30.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Equities research analysts forecast that NexGen Energy will post -0.05 EPS for the current year.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds have recently bought and sold shares of the company. Cooper Creek Partners Management LLC acquired a new position in NexGen Energy during the 2nd quarter valued at about $41,491,000. Hancock Prospecting Pty Ltd bought a new stake in shares of NexGen Energy during the second quarter valued at approximately $39,975,000. Van ECK Associates Corp boosted its position in shares of NexGen Energy by 28.9% during the third quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock worth $211,517,000 after buying an additional 5,305,263 shares during the period. Millennium Management LLC grew its holdings in NexGen Energy by 97.8% in the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after buying an additional 5,011,890 shares in the last quarter. Finally, L1 Capital Pty Ltd increased its position in NexGen Energy by 10.3% in the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock valued at $234,683,000 after acquiring an additional 3,171,558 shares during the period. 42.43% of the stock is currently owned by institutional investors and hedge funds.

About NexGen Energy

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.