NexGen Energy Ltd. [NXE] Stock trading around $4.68 per share: What’s Next?

NexGen Energy Ltd. [NYSE: NXE] stock went on an upward path that rose over 0.21% on Wednesday, amounting to a one-week price increase of more than 5.17%. The company report on January 6, 2023 that NexGen Establishes C$250 Million At-the-Market Equity Program.

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NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) announced today that it has established an at-the-market equity program (the “ATM Program”) to offer and sell up to C$250 million of common shares from treasury (“Common Shares”).

Sales of Common Shares, if any, will be made pursuant to the terms of an equity distribution agreement dated January 6, 2023 (the “Sales Agreement”) among the Company, Virtu ITG Canada Corp., as Canadian agent, and Virtu Americas, LLC, as U.S. agent (together, the “Agents”), on the TSX and/or the NYSE, and/or any other marketplace for the Common Shares in Canada or the United States or as otherwise agreed between the Agents and the Company. The volume and timing of sales under the ATM Program, if any, will be determined in the Company’s sole discretion, and at the market price prevailing at the time of each sale, and, as a result, sale prices may vary.

Over the last 12 months, NXE stock rose by 14.43%.

The market cap for the stock reached $2.91 billion, with 479.50 million shares outstanding and 400.01 million shares in the current float. Compared to the average trading volume of 2.45M shares, NXE stock reached a trading volume of 3765760 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.19 The Price to Book ratio for the last quarter was 5.32, with the Price to Cash per share for the same quarter was set at 0.24.

NXE Stock Performance Analysis:

NexGen Energy Ltd. [NXE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.17. With this latest performance, NXE shares gained by 11.16% in over the last four-week period, additionally plugging by 20.93% over the last 6 months – not to mention a rise of 14.43% 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 58.84, with the RSI for the last a single of trading hit 61.04, and the three-weeks RSI is set at 57.01 for NexGen Energy Ltd. [NXE]. The present Moving Average for the last 50 days of trading for this stock 4.38, while it was recorded at 4.63 for the last single week of trading, and 4.29 for the last 200 days.

Insight into NexGen Energy Ltd. Fundamentals:

Return on Equity for this stock declined to -45.12, with Return on Assets sitting at -26.35.

NexGen Energy Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.30 and a Current Ratio set at 8.30.

NexGen Energy Ltd. [NXE] Insider Position Details

There are presently around $576 million, or 32.64% 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 21,842,208, which is approximately 7.222% of the company’s market cap and around 15.95% of the total institutional ownership; ALPS ADVISORS INC, holding 10,795,544 shares of the stock with an approximate value of $50.52 million in NXE stocks shares; and L1 CAPITAL PTY LTD, currently with $42.68 million in NXE stock with ownership of nearly -23.373% of the company’s market capitalization.

65 institutional holders increased their position in NexGen Energy Ltd. [NYSE:NXE] by around 14,605,914 shares. Additionally, 42 investors decreased positions by around 13,652,670 shares, while 31 investors held positions by with 94,714,203 shares. The mentioned changes placed institutional holdings at 122,972,787 shares, according to the latest SEC report filing. NXE stock had 20 new institutional investments in for a total of 4,862,832 shares, while 13 institutional investors sold positions of 1,910,654 shares during the same period.


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