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NexGen Energy Ltd. (NXE) Stock’s Detailed Analysis

NexGen Energy Ltd. (NYSE:NXE) has a beta value of 1.92 and has seen 5.24 million shares traded in the last trading session. The company, currently valued…

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This article was originally published by The Marketing Sentinal

NexGen Energy Ltd. (NYSE:NXE) has a beta value of 1.92 and has seen 5.24 million shares traded in the last trading session. The company, currently valued at $3.85B, closed the last trade at $5.68 per share which meant it gained $0.21 on the day or 3.84% during that session. The NXE stock price is 0.7% off its 52-week high price of $5.64 and 40.14% above the 52-week low of $3.40. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.26 million shares traded. The 3-month trading volume is 2.44 million shares.

The consensus among analysts is that NexGen Energy Ltd. (NXE) is a Buy stock at the moment, with a recommendation rating of 1.70. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 0 out of 12 have rated it as a Hold, with 10 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.02.

NexGen Energy Ltd. (NYSE:NXE) trade information

Sporting 3.84% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 09/11/23 when the NXE stock price touched $5.68 or saw a rise of 0.35%. Year-to-date, NexGen Energy Ltd. shares have moved 28.22%, while the 5-day performance has seen it change 7.78%. Over the past 30 days, the shares of NexGen Energy Ltd. (NYSE:NXE) have changed 21.37%. Short interest in the company has seen 20.55 million shares shorted with days to cover at 9.85.

Wall Street analysts have a consensus price target for the stock at $7.36, which means that the shares’ value could jump 22.83% from current levels. The projected low price target is $5.32 while the price target rests at a high of $8.50. In that case, then, we find that the current price level is -49.65% off the targeted high while a plunge would see the stock lose 6.34% from current levels.

NexGen Energy Ltd. (NXE) estimates and forecasts

Figures show that NexGen Energy Ltd. shares have outperformed across the wider relevant industry. The company’s shares have gained 46.02% over the past 6 months, with this year growth rate of 11.11%, compared to 7.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -200.00% and 50.00% for the next quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 7.50% over the past 5 years.

NXE Dividends

NexGen Energy Ltd. is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

NexGen Energy Ltd. (NYSE:NXE)’s Major holders

Insiders own 15.97% of the company shares, while shares held by institutions stand at 35.00% with a share float percentage of 41.65%. Investors are also buoyed by the number of investors in a company, with NexGen Energy Ltd. having a total of 204 institutions that hold shares in the company. The top two institutional holders are Mirae Asset Global Investments Co., Ltd. with over 21.15 million shares worth more than $99.61 million. As of Jun 29, 2023, Mirae Asset Global Investments Co., Ltd. held 4.30% of shares outstanding.

The other major institutional holder is L1 Capital Pty Ltd, with the holding of over 16.62 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $78.29 million and represent 3.38% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Global X Fds-Global X Uranium ETF and Sprott Uranium Miners ETF. As of Jul 30, 2023, the former fund manager holds about 4.14% shares in the company for having 20.32 million shares of worth $99.79 million while later fund manager owns 10.18 million shares of worth $47.95 million as of Jun 29, 2023, which makes it owner of about 2.07% of company’s outstanding stock.

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