Appian Way Asset Management LP Sells 1,161,225 Shares of NexGen Energy Ltd. (NYSE:NXE)

Appian Way Asset Management LP trimmed its position in NexGen Energy Ltd. (NYSE:NXE - Free Report) by 71.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,582 shares of the company's stock after selling 1,161,225 shares during the period. NexGen Energy makes up approximately 0.6% of Appian Way Asset Management LP's portfolio, making the stock its 18th biggest position. Appian Way Asset Management LP owned approximately 0.08% of NexGen Energy worth $3,073,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NXE. Vanguard Group Inc. raised its position in shares of NexGen Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 20,436,513 shares of the company's stock worth $134,779,000 after purchasing an additional 298,106 shares during the period. Van ECK Associates Corp raised its holdings in NexGen Energy by 79.7% during the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock worth $55,971,000 after buying an additional 3,762,756 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of NexGen Energy by 222.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock valued at $41,882,000 after buying an additional 4,378,933 shares in the last quarter. Mirabella Financial Services LLP grew its holdings in shares of NexGen Energy by 12.3% during the fourth quarter. Mirabella Financial Services LLP now owns 3,342,960 shares of the company's stock valued at $22,044,000 after buying an additional 365,390 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of NexGen Energy by 131.8% during the fourth quarter. Marshall Wace LLP now owns 2,224,419 shares of the company's stock worth $14,681,000 after acquiring an additional 1,264,655 shares in the last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NXE has been the topic of several recent research reports. Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a research report on Thursday, March 6th. Raymond James reaffirmed an "outperform" rating on shares of NexGen Energy in a research report on Friday, April 4th. Stifel Canada upgraded NexGen Energy to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus began coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They issued a "buy" rating for the company. Three research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Strong Buy".

NexGen Energy Trading Down 0.7 %

Shares of NXE traded down $0.04 on Tuesday, reaching $5.21. 2,999,499 shares of the company's stock traded hands, compared to its average volume of 6,978,109. The stock's 50 day simple moving average is $4.79 and its two-hundred day simple moving average is $6.33. The stock has a market cap of $2.96 billion, a PE ratio of 34.70 and a beta of 1.50. NexGen Energy Ltd. has a 52-week low of $3.91 and a 52-week high of $8.96.

About NexGen Energy

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.