Ninepoint Partners LP Invests $3.33 Million in NexGen Energy $NXE

Ninepoint Partners LP acquired a new stake in NexGen Energy (NYSE:NXE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 355,000 shares of the company’s stock, valued at approximately $3,333,000.

A number of other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC raised its position in NexGen Energy by 15.3% in the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company’s stock worth $18,407,000 after acquiring an additional 543,179 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of NexGen Energy by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock valued at $680,000 after purchasing an additional 10,266 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock worth $13,412,000 after purchasing an additional 36,510 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of NexGen Energy in the 1st quarter worth approximately $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NexGen Energy by 13.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock worth $3,166,000 after purchasing an additional 81,167 shares in the last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

NexGen Energy Price Performance

NYSE:NXE opened at $10.22 on Friday. The stock has a market cap of $6.84 billion, a PE ratio of -25.55 and a beta of 1.40. NexGen Energy has a fifty-two week low of $6.40 and a fifty-two week high of $13.96. The stock’s 50-day moving average is $9.78 and its two-hundred day moving average is $11.08.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

NexGen Energy Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.