Amundi Purchases 1,303,093 Shares of NexGen Energy $NXE

Key Points

• Amundi increased its NexGen Energy position by 167% in the first quarter, purchasing 1.3 million additional shares and bringing its total holdings to 2.08 million shares valued at approximately $24.2 million.
• Other major institutional investors, including L1 Capital, VanEck, Vanguard and Millennium Management, also expanded their positions; institutions collectively own 42.43% of NexGen Energy.
• NXE shares opened at $9.60, while analyst sentiment remains moderately bullish: four analysts rate the stock a Buy, one a Hold and one a Sell.

Amundi lifted its position in NexGen Energy (NYSE:NXE - Free Report) by 167.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,083,568 shares of the company's stock after buying an additional 1,303,093 shares during the period. Amundi owned approximately 0.32% of NexGen Energy worth $24,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. L1 Capital Pty Ltd increased its position in NexGen Energy by 9.1% during the fourth quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company's stock valued at $309,145,000 after acquiring an additional 2,804,090 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of NexGen Energy by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company's stock worth $268,240,000 after purchasing an additional 5,523,932 shares during the period. Vanguard Group Inc. lifted its stake in shares of NexGen Energy by 15.5% in the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company's stock worth $226,901,000 after purchasing an additional 3,304,071 shares during the period. Millennium Management LLC boosted its holdings in shares of NexGen Energy by 97.8% in the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company's stock worth $90,718,000 after buying an additional 5,011,890 shares during the last quarter. Finally, Hancock Prospecting Pty Ltd boosted its holdings in shares of NexGen Energy by 10.0% in the fourth quarter. Hancock Prospecting Pty Ltd now owns 9,078,245 shares of the company's stock worth $83,656,000 after buying an additional 828,245 shares during the last quarter. Institutional investors own 42.43% of the company's stock.

NexGen Energy Stock Up 4.9%

NXE stock opened at $9.60 on Tuesday. NexGen Energy has a twelve month low of $6.26 and a twelve month high of $13.96. The stock has a market cap of $6.42 billion, a P/E ratio of -19.58 and a beta of 1.40. The business's 50-day moving average price is $9.92 and its 200-day moving average price is $11.27.

Wall Street Analysts Forecast Growth

NXE has been the subject of a number of research reports. Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Four investment 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

NexGen Energy Profile

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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