NXE Stock Summary and Trading Ideas (Nexgen Energy Ltd. Common Shares | NYSE:NXE)

NexGen Energy Ltd is a mineral exploration company. It is engaged in the acquisition, exploration, evaluation and development of uranium properties in Canada. The company's projects portfolio consists of ROOK I, and the IsoEnergy, at the Athabasca Basin. The Rook I property hosts the world-class Arrow Zone, the Bow discovery. as well as the discovered Harpoon area located northeast of the Arrow deposit.

Nexgen Energy Ltd. Common Shares trades on the NYSE stock market under the symbol NXE.

As of May 3, 2024, NXE stock price climbed to $8.29 with 5,180,204 million shares trading.

NXE has a beta of 0.98, meaning it tends to be less sensitive to market movements. NXE has a correlation of 0.09 to the broad based SPY ETF.

NXE has a market cap of $4.47 billion. This is considered a Mid Cap stock.

Last quarter Nexgen Energy Ltd. Common Shares reported $0 in Revenue and -$.06 earnings per share. This met revenue expectation and missed earnings estimates by -$.03.

In the last 3 years, NXE stock traded as high as $8.88 and as low as $3.39.

The top ETF exchange traded funds that NXE belongs to (by Net Assets): URA, URNM, URNJ, NLR, IGE.

NXE has outperformed the market in the last year with a price return of +119.9% while the SPY ETF gained +27.0%. However, in the short term, NXE had mixed performance relative to the market. It has underperformed in the last 3 months, returning +2.1% vs +3.7% return in SPY. But in the last 2 weeks, NXE shares have fared better than the market returning +8.9% compared to SPY +3.3%.

NXE support price is $7.89 and resistance is $8.45 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NXE stock will trade within this expected range on the day.