Cooper Creek Partners Management LLC Reduces Stock Position in NexGen Energy $NXE

Cooper Creek Partners Management LLC reduced its stake in NexGen Energy (NYSE:NXE) by 13.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,510,501 shares of the company’s stock after selling 537,666 shares during the period. NexGen Energy makes up about 1.4% of Cooper Creek Partners Management LLC’s holdings, making the stock its 26th largest holding. Cooper Creek Partners Management LLC’s holdings in NexGen Energy were worth $40,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in NXE. Norges Bank bought a new stake in shares of NexGen Energy during the 4th quarter valued at $72,303,000. CIBC Asset Management Inc boosted its stake in NexGen Energy by 341.9% in the 4th quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company’s stock worth $81,312,000 after purchasing an additional 6,825,731 shares during the period. Van ECK Associates Corp boosted its stake in NexGen Energy by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock worth $268,240,000 after purchasing an additional 5,523,932 shares during the period. Millennium Management LLC grew its holdings in NexGen Energy by 97.8% during the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock valued at $90,718,000 after buying an additional 5,011,890 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock valued at $226,901,000 after buying an additional 3,304,071 shares in the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NXE. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

NexGen Energy Stock Performance

Shares of NXE stock opened at $9.14 on Friday. NexGen Energy has a 52-week low of $6.26 and a 52-week high of $13.96. The company has a market capitalization of $6.12 billion, a PE ratio of -18.66 and a beta of 1.39. The business’s fifty day moving average is $10.09 and its 200 day moving average is $11.33.

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.