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NexGen Energy Ltd. (NYSE: NXE): Time To Buy Over The Next Few Months

In the last trading session, 1.52 million NexGen Energy Ltd. (NYSE:NXE) shares changed hands as the company’s beta touched 1.83. With the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 1.52 million NexGen Energy Ltd. (NYSE:NXE) shares changed hands as the company’s beta touched 1.83. With the company’s per share price at $4.60 changed hands at $0.01 or 0.22% during last session, the market valuation stood at $2.88B. NXE’s last price was a discount, traded about -42.61% off its 52-week high of $6.56. The share price had its 52-week low at $3.39, which suggests the last value was 26.3% up since then. When we look at NexGen Energy Ltd.’s average trading volume, we note the 10-day average is 2.55 million shares, with the 3-month average coming to 3.03 million.

NexGen Energy Ltd. (NYSE:NXE) trade information

Instantly NXE was in green as seen at the end of in last trading. With action 5.75%, the performance over the past five days has been green. The jump to weekly highs of 4.64 on Friday, 11/25/22 added 0.22% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.26%, with the 5-day performance at 5.75% in the green. However, in the 30-day time frame, NexGen Energy Ltd. (NYSE:NXE) is 9.00% up. Looking at the short shares, we see there were 16.93 million shares sold at short interest cover period of 5.73 days.

The consensus price target for the stock as assigned by Wall Street analysts is $6.73, meaning bulls need an upside of 31.65% from its current market value. According to analyst projections, NXE’s forecast low is $4.86 with $8.38 as the target high. To hit the forecast high, the stock’s price needs a -82.17% plunge from its current level, while the stock would need to soar -5.65% for it to hit the projected low.

NexGen Energy Ltd. (NXE) estimates and forecasts

Data shows that the NexGen Energy Ltd. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -2.95% over the past 6 months, a 37.50% in annual growth rate that is considerably higher than the industry average of 8.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -35.70%. The 2022 estimates are for NexGen Energy Ltd. earnings to increase by 12.50%.

NXE Dividends

NexGen Energy Ltd. is expected to release its next quarterly earnings report between February 23 and February 27.

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

If we look at who the major shareholders are, we find that insiders hold 15.92% of NexGen Energy Ltd. shares while 33.14% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 39.42%. There are 33.14% institutions holding the NexGen Energy Ltd. stock share, with Mirae Asset Global Investments Co., Ltd. the top institutional holder. As of Jun 29, 2022, the company held 4.25% of the shares, roughly 20.37 million NXE shares worth $73.13 million.

Alps Advisors Inc. holds the second largest percentage of outstanding shares, with 3.71% or 17.78 million shares worth $63.83 million as of Jun 29, 2022.

Among Mutual Funds, the top two as of Sep 29, 2022 were Global X Fds-Global X Uranium ETF and Sprott Uranium Miners ETF. With 21.41 million shares estimated at $78.59 million under it, the former controlled 4.47% of total outstanding shares. On the other hand, Sprott Uranium Miners ETF held about 1.89% of the shares, roughly 9.07 million shares worth around $40.27 million.


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