Envestnet Asset Management Inc. Has $911,000 Stake in NexGen Energy (NYSE:NXE)

Key Points

• Envestnet Asset Management Inc. increased its stake in NexGen Energy by 64.1% during the first quarter, owning a total of 202,953 shares valued at approximately $911,000.
• A number of institutional investors, including Vanguard Group and JPMorgan Chase, have also boosted their positions in NexGen Energy, indicating growing institutional interest in the stock.
• NexGen Energy's stock has seen a recent decline of 3.4% and currently has a market capitalization of $3.70 billion, alongside reporting a loss of ($0.06) earnings per share for the last quarter.

Envestnet Asset Management Inc. lifted its position in shares of NexGen Energy (NYSE:NXE - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,953 shares of the company's stock after acquiring an additional 79,314 shares during the period. Envestnet Asset Management Inc.'s holdings in NexGen Energy were worth $911,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of NexGen Energy in the 4th quarter valued at $51,000. Mariner LLC acquired a new position in NexGen Energy in the 4th quarter valued at $68,000. Aptus Capital Advisors LLC acquired a new stake in shares of NexGen Energy in the 4th quarter valued at $79,000. Hsbc Holdings PLC boosted its position in NexGen Energy by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock valued at $124,000 after buying an additional 3,473 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of NexGen Energy in the fourth quarter worth $137,000. Institutional investors own 42.43% of the company's stock.

Analysts Set New Price Targets

Separately, Desjardins initiated coverage on NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating for the company. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NexGen Energy has a consensus rating of "Buy".

NexGen Energy Trading Up 3.7%

Shares of NXE traded up $0.26 during trading hours on Wednesday, reaching $7.20. 4,273,361 shares of the company traded hands, compared to its average volume of 9,439,377. NexGen Energy has a 12-month low of $3.91 and a 12-month high of $8.96. The stock's fifty day moving average price is $6.72 and its 200 day moving average price is $5.87. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -44.92 and a beta of 1.45.

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

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.