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Is Now The Right Time To Buy NexGen Energy Ltd. (NYSE: NXE) Stock?

NexGen Energy Ltd. (NYSE:NXE) traded at $4.67 at close of the session on Tuesday, 01/24/23, made a downward move of -0.21% on its previous day’s price.

Looking at the stock we see that its previous close was $4.68 and the beta (5Y monthly) reads 1.82 with the day’s price range being $4.60 – $4.69. In terms of its 52-week price range, NXE has a high of $6.56 and a low of $3.39. The company’s stock has gained about 10.14% over that past 30 days.

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NexGen Energy Ltd. has a market cap of $2.90 billion and is expected to release its quarterly earnings report on Feb 23, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of $0, with the EPS growth for the year raised at -$0.07 for 2022 and -$0.05 for next year. These figures represent 65.00% and 28.60% growth in EPS for the two years respectively.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NXE stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Looking further, we note the current price level is 4.64% off its SMA20 and 7.01% from its 50-day simple moving average. The RSI (14) is pointing at 58.50 while the volatility over the past week is 4.06% and jumps to 4.11% over the past one month. The beta value is 1.77, while the average true range (ATR) is currently pointing at 0.18.

Let’s briefly compare NexGen Energy Ltd. (NXE) stock to its peers. We find that current price change of -0.21% and 15.02% over the past 12 months for NXE competes that of NexGen Energy Ltd. (NXE), which has seen its stock price fall -0.21% in the last trading session and was 15.02% over the last one year.. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.

Coming back to NexGen Energy Ltd. (NYSE:NXE), we note that the average 3-month trading volume was 2.46 million, while that of the preceding 10-day period stands at 1.77 million. Current shares outstanding are 479.50 million.

The insiders hold 15.95% of the company’s shares while institutions hold 32.64%. The data shows that short shares as of Oct 13, 2022, stood at 16.93 million at a short ratio of 5.73. This represents a 3.53% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 17.38 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 5.42% up in year-to-date price movement.

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