Cibc World Market Inc. Makes New $3.30 Million Investment in NexGen Energy $NXE

Cibc World Market Inc. bought a new position in NexGen Energy (NYSE:NXE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 351,569 shares of the company’s stock, valued at approximately $3,299,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NXE. Vanguard Group Inc. raised its stake in shares of NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock worth $226,901,000 after purchasing an additional 3,304,071 shares during the period. Amundi grew its position in NexGen Energy by 167.0% during the first quarter. Amundi now owns 2,083,568 shares of the company’s stock valued at $24,169,000 after buying an additional 1,303,093 shares during the period. Janus Henderson Group PLC increased its holdings in NexGen Energy by 107.0% during the first quarter. Janus Henderson Group PLC now owns 799,183 shares of the company’s stock worth $9,248,000 after buying an additional 413,061 shares during the last quarter. Ninepoint Partners LP purchased a new stake in NexGen Energy during the second quarter worth about $3,333,000. Finally, Temasek Holdings Private Ltd raised its position in NexGen Energy by 96.5% in the first quarter. Temasek Holdings Private Ltd now owns 2,436,471 shares of the company’s stock worth $28,263,000 after acquiring an additional 1,196,263 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Price Performance

Shares of NYSE NXE opened at $11.09 on Thursday. NexGen Energy has a one year low of $7.17 and a one year high of $13.96. The business’s fifty day moving average price is $9.83 and its 200-day moving average price is $11.05. The stock has a market capitalization of $7.42 billion, a PE ratio of -27.72 and a beta of 1.40.

Wall Street Analysts Forecast Growth

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

About NexGen Energy

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.