Norges Bank Takes $72.30 Million Position in NexGen Energy $NXE

Norges Bank bought a new stake in NexGen Energy (NYSE:NXE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,857,282 shares of the company’s stock, valued at approximately $72,303,000. Norges Bank owned approximately 1.19% of NexGen Energy as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. New Harbor Financial Group LLC raised its stake in shares of NexGen Energy by 4.3% during the 4th quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock worth $225,000 after buying an additional 1,000 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in shares of NexGen Energy by 1.3% during the 4th quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock worth $794,000 after buying an additional 1,093 shares in the last quarter. Tidal Investments LLC raised its stake in shares of NexGen Energy by 6.9% during the 2nd quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock worth $194,000 after buying an additional 1,817 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of NexGen Energy by 5.7% during the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock worth $243,000 after buying an additional 1,904 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in shares of NexGen Energy by 4.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 53,935 shares of the company’s stock worth $374,000 after buying an additional 2,100 shares in the last quarter. 42.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday. Finally, UBS Group assumed coverage on NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating for the company. Five 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

NexGen Energy Price Performance

NYSE NXE opened at $10.29 on Friday. NexGen Energy has a 1-year low of $6.20 and a 1-year high of $13.96. The company has a market capitalization of $6.81 billion, a P/E ratio of -20.99 and a beta of 1.35. The business has a 50 day moving average price of $11.72 and a 200 day moving average price of $11.15.

NexGen Energy Company 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.