Traders Buy Large Volume of Put Options on NexGen Energy (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) was the recipient of some unusual options trading on Monday. Traders bought 40,170 put options on the stock. This is an increase of 256% compared to the typical volume of 11,273 put options.

Analyst Upgrades and Downgrades

NXE has been the topic of several recent research reports. Stifel Nicolaus assumed coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They set a “buy” rating on the stock. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Finally, Stifel Canada raised shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Azarias Capital Management L.P. increased its position in NexGen Energy by 15.3% during the fourth quarter. Azarias Capital Management L.P. now owns 2,038,627 shares of the company’s stock worth $13,455,000 after purchasing an additional 271,153 shares during the last quarter. Mountaineer Partners Management LLC grew its stake in shares of NexGen Energy by 536.6% in the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock valued at $24,071,000 after buying an additional 3,107,214 shares during the period. Toronto Dominion Bank increased its holdings in shares of NexGen Energy by 719.6% during the 3rd quarter. Toronto Dominion Bank now owns 180,140 shares of the company’s stock worth $1,176,000 after buying an additional 158,160 shares during the last quarter. Barclays PLC increased its holdings in shares of NexGen Energy by 328.3% during the 3rd quarter. Barclays PLC now owns 187,861 shares of the company’s stock worth $1,227,000 after buying an additional 143,996 shares during the last quarter. Finally, Segra Capital Management LLC raised its position in shares of NexGen Energy by 19.8% during the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after buying an additional 1,931,200 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Stock Performance

Shares of NexGen Energy stock opened at $4.59 on Wednesday. The business’s 50 day moving average price is $5.62 and its 200 day moving average price is $6.71. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 30.57 and a beta of 1.97. NexGen Energy has a one year low of $4.30 and a one year high of $8.96.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.