1832 Asset Management L.P. Acquires 227,951 Shares of NexGen Energy $NXE

Key Points

• 1832 Asset Management L.P. has increased its stake in NexGen Energy by 9.4%, acquiring an additional 227,951 shares during the first quarter.
• NexGen Energy reported a quarterly earnings miss with ($0.10) earnings per share, falling short of consensus expectations by ($0.08).
• Several analysts have given NexGen Energy a consensus rating of "Buy", with two ratings classified as "Strong Buy".

1832 Asset Management L.P. grew its stake in shares of NexGen Energy (NYSE:NXE - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,651,294 shares of the company's stock after buying an additional 227,951 shares during the period. 1832 Asset Management L.P. owned 0.47% of NexGen Energy worth $11,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Invesco Ltd. grew its stake in NexGen Energy by 6.7% during the fourth quarter. Invesco Ltd. now owns 26,399 shares of the company's stock valued at $174,000 after acquiring an additional 1,656 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of NexGen Energy by 10.4% during the first quarter. Hsbc Holdings PLC now owns 20,675 shares of the company's stock valued at $93,000 after purchasing an additional 1,946 shares in the last quarter. Rathbones Group PLC grew its position in shares of NexGen Energy by 6.8% during the first quarter. Rathbones Group PLC now owns 33,131 shares of the company's stock valued at $149,000 after purchasing an additional 2,100 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of NexGen Energy by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock worth $690,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of NexGen Energy by 1.3% in the first quarter. Mackenzie Financial Corp now owns 233,457 shares of the company's stock worth $1,046,000 after buying an additional 2,933 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Price Performance

Shares of NYSE NXE opened at $7.0950 on Friday. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $8.96. The business's 50 day moving average is $6.83 and its two-hundred day moving average is $5.87. The stock has a market capitalization of $4.05 billion, a P/E ratio of -28.38 and a beta of 1.45.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). As a group, equities research analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on NXE. TD Securities restated a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. Desjardins initiated coverage on shares of NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, NexGen Energy currently has a consensus rating of "Buy".

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.

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