Van ECK Associates Corp Increases Stock Position in NexGen Energy Ltd. (NYSE:NXE)

Van ECK Associates Corp increased its position in shares of NexGen Energy Ltd. (NYSE:NXE) by 69.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,135,565 shares of the company’s stock after buying an additional 1,283,210 shares during the period. Van ECK Associates Corp’s holdings in NexGen Energy were worth $21,880,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. L1 Capital Pty Ltd lifted its stake in shares of NexGen Energy by 6.3% in the first quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company’s stock worth $187,127,000 after acquiring an additional 1,423,317 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of NexGen Energy by 5,020.5% during the 1st quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company’s stock valued at $126,047,000 after buying an additional 15,905,444 shares during the last quarter. MMCAP International Inc. SPC grew its position in shares of NexGen Energy by 1,627.2% during the first quarter. MMCAP International Inc. SPC now owns 3,564,665 shares of the company’s stock worth $27,697,000 after buying an additional 3,358,278 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of NexGen Energy by 74.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,341,885 shares of the company’s stock worth $23,393,000 after buying an additional 1,430,709 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of NexGen Energy by 37.2% in the fourth quarter. TD Asset Management Inc now owns 3,014,160 shares of the company’s stock worth $21,190,000 after buying an additional 817,897 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NXE. Ventum Cap Mkts upgraded NexGen Energy to a “strong-buy” rating in a research note on Monday, July 8th. Haywood Securities upgraded shares of NexGen Energy to a “strong-buy” rating in a research report on Friday, May 17th.

NexGen Energy Price Performance

Shares of NXE stock traded up $0.10 during trading hours on Friday, reaching $6.03. The stock had a trading volume of 5,132,132 shares, compared to its average volume of 5,103,125. The firm has a 50-day simple moving average of $6.41 and a 200-day simple moving average of $7.19. The firm has a market capitalization of $3.41 billion, a PE ratio of -602.40 and a beta of 1.93. NexGen Energy Ltd. has a twelve month low of $4.95 and a twelve month high of $8.88.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. During the same quarter last year, the business posted ($0.03) earnings per share. On average, equities analysts anticipate that NexGen Energy Ltd. will post -0.09 earnings per share for the current year.

NexGen Energy Profile

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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.