NexGen Energy Ltd. [NXE] is 6.18% higher this YTD. Is it still time to buy?

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NexGen Energy Ltd. [NYSE: NXE] loss -9.38% on the last trading session, reaching $4.64 price per share at the time. The company report on April 25, 2022 that NexGen Signs Impact Benefit Agreement with Clearwater River Dene Nation.

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NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the signing of an Impact Benefit Agreement (“IBA”) with the Clearwater River Dene Nation (“CRDN”), covering all phases of the Rook I Project (“Rook I” or the “Project”), which hosts the 100% owned Arrow uranium deposit.

NexGen signs a historic IBA with CRDN. The Rook I Project is located within the traditional territory of the CRDN. The IBA defines the environmental, cultural, economic, employment and other benefits to be provided to the CRDN by NexGen in respect of the Project, and to confirm the consent and support of CRDN for the Project throughout its complete lifecycle, including reclamation. The Agreement was negotiated and developed out of the Study Agreement that was signed in 2019 between NexGen and the CRDN. The Study Agreement formalized engagement with the CRDN to identify potential impacts to Aboriginal and treaty rights and socio-economic interests, and identify potential avoidance and accommodation measures in relation to the Project whilst acknowledging the duty to consult remains with the Crown. Further, the Study Agreements provided CRDN support to negotiate the IBA. Note, the IBA does not abrogate, extinguish, or constitute the abandonment of any existing Aboriginal, inherent, or treaty rights of the CRDN recognized and affirmed pursuant to Section 35 of the Constitution Act, 1982. Importantly, the Agreement is entered into in recognition of the Aboriginal and Treaty Rights of the CRDN.

NexGen Energy Ltd. represents 477.47 million in outstanding shares, while the company has a total market value of $2.92 billion with the latest information. NXE stock price has been found in the range of $4.605 to $5.25.

If compared to the average trading volume of 2.48M shares, NXE reached a trading volume of 3536166 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about NexGen Energy Ltd. [NXE]:

RBC Capital Mkts have made an estimate for NexGen Energy Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 11, 2022. The new note on the price target was released on June 23, 2021, representing the official price target for NexGen Energy Ltd. stock.

The Average True Range (ATR) for NexGen Energy Ltd. is set at 0.37 The Price to Book ratio for the last quarter was 5.10, with the Price to Cash per share for the same quarter was set at 0.34.

Trading performance analysis for NXE stock

NexGen Energy Ltd. [NXE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.30. With this latest performance, NXE shares dropped by -15.48% in over the last four-week period, additionally sinking by -22.54% over the last 6 months – not to mention a rise of 0.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NXE stock in for the last two-week period is set at 36.52, with the RSI for the last a single of trading hit 32.83, and the three-weeks RSI is set at 40.21 for NexGen Energy Ltd. [NXE]. The present Moving Average for the last 50 days of trading for this stock 5.46, while it was recorded at 4.87 for the last single week of trading, and 4.93 for the last 200 days.

NexGen Energy Ltd. [NXE]: A deeper dive into fundamental analysis

NexGen Energy Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 26.00 and a Current Ratio set at 26.00.

An analysis of insider ownership at NexGen Energy Ltd. [NXE]

There are presently around $609 million, or 26.43% of NXE stock, in the hands of institutional investors. The top three institutional holders of NXE stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 19,525,708, which is approximately 26.64% of the company’s market cap and around 16.07% of the total institutional ownership; L1 CAPITAL PTY LTD, holding 10,254,848 shares of the stock with an approximate value of $52.51 million in NXE stocks shares; and EXCHANGE TRADED CONCEPTS, LLC, currently with $47.78 million in NXE stock with ownership of nearly 36.067% of the company’s market capitalization.

Positions in NexGen Energy Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 61 institutional holders increased their position in NexGen Energy Ltd. [NYSE:NXE] by around 29,680,490 shares. Additionally, 57 investors decreased positions by around 6,193,765 shares, while 19 investors held positions by with 83,010,248 shares. The mentioned changes placed institutional holdings at 118,884,503 shares, according to the latest SEC report filing. NXE stock had 14 new institutional investments in for a total of 11,197,389 shares, while 18 institutional investors sold positions of 1,254,858 shares during the same period.