Van ECK Associates Corp Increases Holdings in NexGen Energy $NXE

Van ECK Associates Corp raised its stake in shares of NexGen Energy (NYSE:NXE) by 23.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,157,056 shares of the company’s stock after buying an additional 5,523,932 shares during the quarter. Van ECK Associates Corp owned about 4.41% of NexGen Energy worth $268,240,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Goehring & Rozencwajg Associates LLC raised its stake in shares of NexGen Energy by 5.3% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 1,518,939 shares of the company’s stock worth $13,974,000 after purchasing an additional 76,684 shares during the last quarter. L1 Capital Pty Ltd raised its stake in shares of NexGen Energy by 9.1% in the fourth quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company’s stock worth $309,145,000 after purchasing an additional 2,804,090 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of NexGen Energy by 1.7% in the fourth quarter. Wells Fargo & Company MN now owns 411,735 shares of the company’s stock worth $3,785,000 after purchasing an additional 6,769 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of NexGen Energy in the fourth quarter worth $2,577,000. Finally, Northwest & Ethical Investments L.P. raised its stake in shares of NexGen Energy by 12.3% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 104,075 shares of the company’s stock worth $953,000 after purchasing an additional 11,424 shares during the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NXE shares. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. UBS Group started coverage on NexGen Energy in a research note on Thursday, March 5th. They issued a “buy” rating for the company. Finally, Weiss Ratings restated 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

NexGen Energy Stock Performance

NexGen Energy stock opened at $9.84 on Friday. The stock has a market cap of $6.51 billion, a PE ratio of -20.07 and a beta of 1.35. NexGen Energy has a one year low of $6.26 and a one year high of $13.96. The stock has a fifty day moving average of $11.58 and a 200 day moving average of $11.21.

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.