7,290,022 Shares in NexGen Energy $NXE Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 7.29 million NexGen Energy shares during the second quarter, valued at approximately $68.3 million and representing a 1.09% stake.
• Several other institutional investors also initiated positions, bringing total institutional ownership of NexGen Energy to 42.43%.
• NexGen Energy shares opened at $11.21, up 2.6%, while analyst sentiment remained mixed with a consensus rating of Hold.

The Manufacturers Life Insurance Company bought a new position in shares of NexGen Energy (NYSE:NXE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 7,290,022 shares of the company's stock, valued at approximately $68,283,000. The Manufacturers Life Insurance Company owned 1.09% of NexGen Energy as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fiduciary Financial Advisors acquired a new position in shares of NexGen Energy in the second quarter valued at approximately $100,000. Cibc World Market Inc. acquired a new stake in shares of NexGen Energy during the second quarter worth $3,299,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in NexGen Energy in the 2nd quarter valued at $7,300,000. Bank of Nova Scotia bought a new stake in NexGen Energy in the 2nd quarter valued at $157,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in NexGen Energy in the 2nd quarter worth $499,000. 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 firm's 50 day moving average is $9.82 and its 200-day moving average is $11.05. 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 12-month low of $7.12 and a 12-month high of $13.96.

Analyst Ratings Changes

NXE has been the subject of a number of research reports. Wall Street Zen upgraded NexGen Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Scotiabank restated an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold".

About NexGen Energy

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.

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