Confluence Investment Management LLC Makes New Investment in NexGen Energy $NXE

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 purchased a new position in NexGen Energy (NYSE:NXE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 69,649 shares of the company's stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compound Planning Inc. purchased a new position in NexGen Energy in the 1st quarter worth approximately $46,000. PenderFund Capital Management Ltd. grew its stake in NexGen Energy by 45.0% in the 1st quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company's stock worth $52,000 after buying an additional 3,600 shares in the last quarter. Ground Swell Capital LLC purchased a new position in NexGen Energy in the 1st quarter worth approximately $55,000. Hsbc Holdings PLC grew its stake in NexGen Energy by 10.4% in the 1st quarter. Hsbc Holdings PLC now owns 20,675 shares of the company's stock worth $93,000 after buying an additional 1,946 shares in the last quarter. Finally, New Harbor Financial Group LLC grew its stake in NexGen Energy by 66.7% in the 1st quarter. New Harbor Financial Group LLC now owns 25,000 shares of the company's stock worth $112,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Stock Performance

Shares of NXE opened at $7.61 on Monday. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of -30.44 and a beta of 1.46. NexGen Energy has a fifty-two week low of $3.91 and a fifty-two week high of $8.96. The firm has a 50 day moving average price of $7.09 and a 200-day moving average price of $6.05.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NXE. TD Securities restated a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. Desjardins began coverage on shares of NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating for the company. One research analyst has 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.com, NexGen Energy presently has an average 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.

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