69,649 Shares in NexGen Energy $NXE Acquired by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC has acquired 69,649 shares of NexGen Energy valued at approximately $483,000, marking a notable new investment in the company.
• NexGen Energy's stock has shown significant volatility, with a fifty-two week low of $3.91 and a high of $8.96, currently trading at around $7.61.
• Despite reporting a quarterly earnings miss with an EPS of ($0.10), the stock retains a favorable average rating of "Buy" from analysts, with some recommending a "Strong Buy."

Confluence Investment Management LLC bought a new position in shares of NexGen Energy (NYSE:NXE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 69,649 shares of the company's stock, valued at approximately $483,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NXE. BNP Paribas Financial Markets acquired a new position in shares of NexGen Energy during the 4th quarter worth approximately $207,000. Bank of America Corp DE grew 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 in the last quarter. Cetera Investment Advisers grew 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 in the last quarter. Janus Henderson Group PLC grew its stake in NexGen Energy by 5.0% during the fourth quarter. Janus Henderson Group PLC now owns 791,030 shares of the company's stock worth $5,209,000 after buying an additional 37,467 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in NexGen Energy by 191.0% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 106,200 shares of the company's stock worth $701,000 after buying an additional 69,700 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company's stock.

NexGen Energy Stock Performance

Shares of NXE traded up $0.28 during mid-day trading on Friday, reaching $8.66. The company had a trading volume of 3,461,535 shares, compared to its average volume of 9,068,611. The company's 50 day simple moving average is $7.23 and its 200 day simple moving average is $6.13. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $8.96. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -34.58 and a beta of 1.47.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NXE shares. TD Securities reiterated a "buy" rating on shares of NexGen Energy in a research note on Friday, August 8th. Desjardins started coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, NexGen Energy presently has an average rating of "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.