ABC Arbitrage SA Takes $177,000 Position in NexGen Energy (NYSE:NXE)

Key Points

• ABC Arbitrage SA has acquired a new stake in NexGen Energy, purchasing 39,519 shares valued at approximately $177,000 during the first quarter of 2023.
• Several institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS and Vanguard Group, have also increased their holdings in NexGen Energy over recent quarters, indicating strong market interest.
• NexGen Energy's stock currently has an average rating of "Buy", with analysts forecasting a potential earnings per share of -0.05 for the current year, following a recent earnings miss.

ABC Arbitrage SA acquired a new position in NexGen Energy (NYSE:NXE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,519 shares of the company's stock, valued at approximately $177,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of NexGen Energy during the fourth quarter valued at approximately $51,000. Mariner LLC purchased a new stake in shares of NexGen Energy during the fourth quarter valued at approximately $68,000. Aptus Capital Advisors LLC purchased a new stake in shares of NexGen Energy during the fourth quarter valued at approximately $79,000. Hsbc Holdings PLC grew its holdings in shares of NexGen Energy by 22.8% during the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock valued at $124,000 after buying an additional 3,473 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of NexGen Energy during the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Stock Performance

Shares of NXE stock traded down $0.10 during mid-day trading on Friday, reaching $6.88. 5,513,306 shares of the company's stock traded hands, compared to its average volume of 7,617,964. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96. The firm has a 50 day moving average price of $6.76 and a two-hundred day moving average price of $5.87. The firm has a market capitalization of $3.93 billion, a PE ratio of -27.52 and a beta of 1.45.

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

Wall Street Analysts Forecast Growth

Separately, Desjardins initiated coverage on shares of NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating on the stock. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. 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.