Raffles Associates LP Invests $939,000 in NexGen Energy $NXE

Raffles Associates LP bought a new stake in NexGen Energy (NYSE:NXE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the company’s stock, valued at approximately $939,000. NexGen Energy accounts for 0.8% of Raffles Associates LP’s investment portfolio, making the stock its 25th largest holding.

Several other large investors also recently bought and sold shares of NXE. Millennium Management LLC grew its position in shares of NexGen Energy by 15.3% during the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company’s stock worth $18,407,000 after buying an additional 543,179 shares in the last quarter. NewEdge Advisors LLC grew its holdings in NexGen Energy by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock worth $680,000 after acquiring an additional 10,266 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock valued at $13,412,000 after purchasing an additional 36,510 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of NexGen Energy in the 1st quarter valued at $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NexGen Energy by 13.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock worth $3,166,000 after purchasing an additional 81,167 shares during the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Stock Up 2.6%

NYSE:NXE opened at $11.21 on Wednesday. The company has a market capitalization of $7.51 billion, a PE ratio of -28.03 and a beta of 1.40. NexGen Energy has a 52-week low of $7.12 and a 52-week high of $13.96. The stock’s 50 day moving average price is $9.82 and its 200 day moving average price is $11.05.

Analyst Ratings Changes

A number of research firms have weighed in on NXE. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Wall Street Zen upgraded NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NexGen Energy has an average rating of “Hold”.

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.