MMCAP International Inc. SPC Boosts Holdings in NexGen Energy $NXE

MMCAP International Inc. SPC lifted its holdings in NexGen Energy (NYSE:NXE) by 4,759.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,429,898 shares of the company’s stock after purchasing an additional 2,379,891 shares during the period. NexGen Energy comprises approximately 2.3% of MMCAP International Inc. SPC’s holdings, making the stock its 6th biggest position. MMCAP International Inc. SPC owned approximately 0.37% of NexGen Energy worth $22,355,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake in shares of NexGen Energy by 454.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after purchasing an additional 6,528 shares during the period. Flow Traders U.S. LLC bought a new position in shares of NexGen Energy in the 2nd quarter worth approximately $76,000. First Trust Advisors LP bought a new position in shares of NexGen Energy in the 3rd quarter worth approximately $94,000. TABR Capital Management LLC bought a new position in shares of NexGen Energy in the 4th quarter worth approximately $101,000. Finally, Knuff & Co LLC bought a new position in shares of NexGen Energy in the 4th quarter worth approximately $104,000. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Trading Up 3.1%

NexGen Energy stock opened at $10.99 on Wednesday. The firm has a 50 day moving average of $11.75 and a 200 day moving average of $11.00. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -22.43 and a beta of 1.39. NexGen Energy has a 12-month low of $5.98 and a 12-month high of $13.96.

NexGen Energy (NYSE:NXE) last released its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, analysts predict that NexGen Energy will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NXE. UBS Group began coverage on shares of NexGen Energy in a research note on Thursday, March 5th. They issued a “buy” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

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.