BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 67,095 Shares of NexGen Energy $NXE

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has increased its stake in NexGen Energy by 26.5%, acquiring an additional 67,095 shares for a total of 320,455 shares valued at approximately $1.44 million.
• Analysts maintain a positive outlook on NexGen Energy, with ratings indicating strong buy and buy recommendations, reflecting an average rating of "Buy".
• NexGen Energy's stock recently traded at $7.32, up 2.9%, with a 12-month high of $8.96 and a low of $3.91, amidst recent earnings reports that missed expectations.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of NexGen Energy (NYSE:NXE - Free Report) by 26.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 320,455 shares of the company's stock after buying an additional 67,095 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of NexGen Energy worth $1,437,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its stake in NexGen Energy by 16.9% during the fourth quarter. Bank of America Corp DE now owns 1,995,608 shares of the company's stock worth $13,171,000 after buying an additional 288,102 shares during the last quarter. Cetera Investment Advisers raised its stake in NexGen Energy by 2.6% during the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock worth $690,000 after buying an additional 2,648 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in NexGen Energy by 11.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,726 shares of the company's stock worth $178,000 after buying an additional 4,075 shares during the last quarter. Bank of New York Mellon Corp raised its stake in NexGen Energy by 7.7% during the first quarter. Bank of New York Mellon Corp now owns 2,021,300 shares of the company's stock worth $9,076,000 after buying an additional 144,742 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in NexGen Energy by 64.1% during the first quarter. Envestnet Asset Management Inc. now owns 202,953 shares of the company's stock worth $911,000 after buying an additional 79,314 shares during the last quarter. Institutional investors own 42.43% of the company's stock.

NexGen Energy Price Performance

Shares of NYSE:NXE traded up $0.44 during midday trading on Friday, hitting $7.88. 14,244,244 shares of the company's stock were exchanged, compared to its average volume of 6,776,238. The stock has a 50 day moving average price of $6.89 and a 200-day moving average price of $5.91. The company has a market cap of $4.50 billion, a PE ratio of -31.53 and a beta of 1.45. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08). On average, analysts anticipate that NexGen Energy will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

NXE has been the subject of a number of analyst reports. Desjardins assumed coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating for the company. TD Securities reiterated a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

NexGen Energy 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.