39,519 Shares in NexGen Energy (NYSE:NXE) Purchased by ABC Arbitrage SA

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 purchased a new stake in NexGen Energy (NYSE:NXE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,519 shares of the company's stock, valued at approximately $177,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of NexGen Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,436,513 shares of the company's stock valued at $134,779,000 after purchasing an additional 298,106 shares during the last quarter. Pictet Asset Management Holding SA increased its position in NexGen Energy by 9.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 97,305 shares of the company's stock worth $641,000 after buying an additional 8,172 shares during the period. Geode Capital Management LLC lifted its stake in NexGen Energy by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 259,697 shares of the company's stock valued at $1,731,000 after buying an additional 11,219 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of NexGen Energy in the fourth quarter valued at approximately $1,368,000. Finally, Wells Fargo & Company MN grew its position in shares of NexGen Energy by 2.8% during the fourth quarter. Wells Fargo & Company MN now owns 238,628 shares of the company's stock worth $1,573,000 after acquiring an additional 6,523 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company's stock.

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 research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NexGen Energy currently has a consensus rating of "Buy".

NexGen Energy Stock Down 1.9%

NXE stock traded down $0.13 during trading on Thursday, hitting $6.98. The company had a trading volume of 7,653,192 shares, compared to its average volume of 7,574,433. The firm has a 50-day moving average price of $6.75 and a 200-day moving average price of $5.88. The firm has a market cap of $3.98 billion, a PE ratio of -27.90 and a beta of 1.45. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $8.96.

NexGen Energy (NYSE:NXE - Get Free Report) last released its earnings results 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). Sell-side analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current year.

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.