Bank of America Corp DE Purchases 288,102 Shares of NexGen Energy Ltd. (NYSE:NXE)

Bank of America Corp DE boosted its position in NexGen Energy Ltd. (NYSE:NXE - Free Report) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,995,608 shares of the company's stock after purchasing an additional 288,102 shares during the quarter. Bank of America Corp DE owned approximately 0.35% of NexGen Energy worth $13,171,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Azarias Capital Management L.P. raised its holdings in NexGen Energy by 15.3% in the fourth quarter. Azarias Capital Management L.P. now owns 2,038,627 shares of the company's stock worth $13,455,000 after purchasing an additional 271,153 shares in the last quarter. Van ECK Associates Corp raised its holdings in NexGen Energy by 79.7% in the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock worth $55,971,000 after purchasing an additional 3,762,756 shares in the last quarter. Jennison Associates LLC bought a new position in NexGen Energy in the fourth quarter worth about $2,487,000. Vontobel Holding Ltd. raised its holdings in NexGen Energy by 94.0% in the fourth quarter. Vontobel Holding Ltd. now owns 56,874 shares of the company's stock worth $375,000 after purchasing an additional 27,565 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in NexGen Energy by 954.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,876,558 shares of the company's stock worth $12,385,000 after purchasing an additional 1,698,649 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Stock Up 1.2%

NXE opened at $5.48 on Thursday. NexGen Energy Ltd. has a 52-week low of $3.91 and a 52-week high of $8.96. The company has a market cap of $3.12 billion, a P/E ratio of 36.50 and a beta of 1.50. The firm's 50-day moving average price is $4.95 and its 200-day moving average price is $6.18.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). On average, research analysts anticipate that NexGen Energy Ltd. will post -0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NXE shares. Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Canada upgraded shares of NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Raymond James restated an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Finally, Stifel Nicolaus assumed coverage on shares of NexGen Energy in a report on Wednesday, March 12th. They set a "buy" rating on the stock. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Strong Buy".

NexGen Energy Company Profile

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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