Pinebridge Investments LLC Makes New Investment in NexGen Energy $NXE

Pinebridge Investments LLC purchased a new position in shares of NexGen Energy (NYSE:NXE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 319,386 shares of the company’s stock, valued at approximately $2,938,000.

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its position in NexGen Energy by 454.3% during the fourth 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 in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of NexGen Energy in the second quarter valued at approximately $76,000. First Trust Advisors LP purchased a new position in shares of NexGen Energy in the third quarter valued at approximately $94,000. TABR Capital Management LLC purchased a new position in shares of NexGen Energy in the fourth quarter valued at approximately $101,000. Finally, Knuff & Co LLC purchased a new position in shares of NexGen Energy in the fourth quarter valued at approximately $104,000. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Price Performance

NYSE NXE opened at $10.29 on Monday. The company has a market cap of $6.81 billion, a PE ratio of -20.99 and a beta of 1.35. The stock’s 50 day simple moving average is $11.72 and its 200-day simple moving average is $11.17. NexGen Energy has a 1-year low of $6.20 and a 1-year high of $13.96.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NXE shares. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. Finally, UBS Group started coverage on NexGen Energy in a research report on Thursday, March 5th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus 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.