Investment Management Corp of Ontario Decreases Holdings in NexGen Energy Ltd. (NYSE:NXE)

Investment Management Corp of Ontario cut its holdings in shares of NexGen Energy Ltd. (NYSE:NXE) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,070 shares of the company’s stock after selling 3,000 shares during the quarter. Investment Management Corp of Ontario’s holdings in NexGen Energy were worth $146,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NXE. JPMorgan Chase & Co. raised its stake in shares of NexGen Energy by 222.6% during the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company’s stock worth $41,882,000 after acquiring an additional 4,378,933 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of NexGen Energy by 79.7% during the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock worth $55,971,000 after acquiring an additional 3,762,756 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NexGen Energy by 954.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,876,558 shares of the company’s stock worth $12,385,000 after acquiring an additional 1,698,649 shares in the last quarter. Marshall Wace LLP raised its stake in shares of NexGen Energy by 131.8% during the fourth quarter. Marshall Wace LLP now owns 2,224,419 shares of the company’s stock worth $14,681,000 after acquiring an additional 1,264,655 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new position in shares of NexGen Energy during the fourth quarter worth approximately $7,831,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Trading Down 0.2%

Shares of NexGen Energy stock opened at $5.70 on Wednesday. The company’s fifty day simple moving average is $4.86 and its two-hundred day simple moving average is $6.26. The company has a market cap of $3.25 billion, a P/E ratio of 38.00 and a beta of 1.50. NexGen Energy Ltd. has a 12-month low of $3.91 and a 12-month high of $8.96.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). Analysts predict that NexGen Energy Ltd. will post -0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NXE. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Thursday, March 6th. Stifel Canada raised shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Raymond James reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Friday, April 4th. Finally, Stifel Nicolaus began coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

NexGen Energy Company 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.