Ninepoint Partners LP Buys Shares of 355,000 NexGen Energy Ltd. (NYSE:NXE)

Ninepoint Partners LP bought a new stake in shares of NexGen Energy Ltd. (NYSE:NXE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 355,000 shares of the company’s stock, valued at approximately $2,343,000. NexGen Energy accounts for about 0.3% of Ninepoint Partners LP’s investment portfolio, making the stock its 28th biggest holding. Ninepoint Partners LP owned approximately 0.06% of NexGen Energy at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in NexGen Energy by 284.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock valued at $33,000 after purchasing an additional 3,700 shares during the period. Larson Financial Group LLC increased its position in NexGen Energy by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 10,575 shares of the company’s stock valued at $69,000 after purchasing an additional 5,827 shares during the period. Silver Lake Advisory LLC acquired a new stake in NexGen Energy during the 4th quarter valued at approximately $73,000. SevenBridge Financial Group LLC acquired a new stake in NexGen Energy during the 3rd quarter valued at approximately $87,000. Finally, Matauro LLC acquired a new stake in NexGen Energy during the 4th quarter valued at approximately $84,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Stock Performance

NexGen Energy stock opened at $4.69 on Friday. NexGen Energy Ltd. has a 52-week low of $4.44 and a 52-week high of $8.96. The stock’s 50 day moving average price is $6.13 and its two-hundred day moving average price is $6.77. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 31.24 and a beta of 1.97.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NXE shares. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Finally, Stifel Nicolaus started coverage on NexGen Energy in a report on Wednesday. They set a “buy” rating on the stock. Two analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, NexGen Energy presently has an average rating of “Strong Buy”.

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 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.