Van ECK Associates Corp Acquires 1,582,705 Shares of NexGen Energy Ltd. (NYSE:NXE)

Van ECK Associates Corp lifted its stake in shares of NexGen Energy Ltd. (NYSE:NXE) by 50.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,718,270 shares of the company’s stock after purchasing an additional 1,582,705 shares during the period. Van ECK Associates Corp owned 0.84% of NexGen Energy worth $30,810,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NXE. Sumitomo Mitsui Trust Holdings Inc. bought a new position in NexGen Energy in the 1st quarter worth about $390,000. Swiss National Bank lifted its position in NexGen Energy by 12.9% in the first quarter. Swiss National Bank now owns 989,000 shares of the company’s stock valued at $7,686,000 after purchasing an additional 112,700 shares during the last quarter. Sei Investments Co. purchased a new position in NexGen Energy during the 1st quarter valued at about $1,028,000. Russell Investments Group Ltd. boosted its stake in shares of NexGen Energy by 316.0% during the 1st quarter. Russell Investments Group Ltd. now owns 146,503 shares of the company’s stock valued at $1,140,000 after purchasing an additional 111,283 shares in the last quarter. Finally, Anthracite Investment Company Inc. raised its holdings in NexGen Energy by 5.3% in the first quarter. Anthracite Investment Company Inc. now owns 1,219,537 shares of the company’s stock worth $9,476,000 after purchasing an additional 61,317 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Price Performance

Shares of NexGen Energy stock opened at $7.16 on Tuesday. NexGen Energy Ltd. has a 1-year low of $4.95 and a 1-year high of $8.88. The stock has a market cap of $4.05 billion, a P/E ratio of 716.00 and a beta of 1.90. The stock’s 50 day simple moving average is $6.65 and its 200-day simple moving average is $6.89.

NexGen Energy (NYSE:NXE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. During the same quarter in the previous year, the business posted ($0.03) EPS. As a group, research analysts expect that NexGen Energy Ltd. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

NXE has been the topic of several research reports. Ventum Cap Mkts upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Monday, July 8th. National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus target price of $11.00.

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.