Encompass Capital Advisors LLC Grows Stake in NexGen Energy $NXE

Key Points

• Encompass Capital Advisors LLC significantly increased its stake in NexGen Energy by 249.5% during Q1, owning approximately 4.15 million shares valued at $18.6 million.
• NexGen Energy reported a loss of $0.10 EPS for the last quarter, missing analysts' expectations, with projections of -0.05 EPS for the current fiscal year.
• The company has a consensus rating of "Buy" from multiple research analysts, with one strong buy and five buy ratings indicating positive outlook for the stock.

Encompass Capital Advisors LLC increased its holdings in NexGen Energy (NYSE:NXE - Free Report) by 249.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,153,080 shares of the company's stock after buying an additional 2,964,900 shares during the quarter. Encompass Capital Advisors LLC owned about 0.73% of NexGen Energy worth $18,635,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Compound Planning Inc. bought a new stake in NexGen Energy in the 1st quarter worth about $46,000. Ground Swell Capital LLC bought a new stake in NexGen Energy in the 1st quarter worth about $55,000. Mariner LLC bought a new stake in NexGen Energy in the 4th quarter worth about $68,000. Aptus Capital Advisors LLC purchased a new position in NexGen Energy in the fourth quarter worth about $79,000. Finally, Hsbc Holdings PLC boosted its position in NexGen Energy by 10.4% in the first quarter. Hsbc Holdings PLC now owns 20,675 shares of the company's stock worth $93,000 after purchasing an additional 1,946 shares during the last quarter. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Stock Performance

Shares of NYSE NXE traded up $0.17 during trading on Friday, hitting $7.77. The company had a trading volume of 8,561,419 shares, compared to its average volume of 6,711,381. The stock has a 50 day simple moving average of $6.99 and a 200 day simple moving average of $5.96. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96. The firm has a market capitalization of $4.44 billion, a P/E ratio of -31.06 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NXE shares. Desjardins started coverage on NexGen Energy in a research report on Tuesday, June 10th. They issued a "buy" rating on the stock. TD Securities reissued a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus 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.