NexGen Energy (NYSE:NXE) Shares Acquired by Envestnet Asset Management Inc.

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NXE. Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 144,742 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its position in shares of NexGen Energy by 2.2% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,472,899 shares of the company's stock worth $6,613,000 after purchasing an additional 32,025 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in NexGen Energy by 11.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,726 shares of the company's stock valued at $178,000 after buying an additional 4,075 shares during the last quarter. Packer & Co Ltd bought a new position in NexGen Energy in the 1st quarter valued at $13,581,000. Finally, Rye Brook Capital LLC grew its stake in shares of NexGen Energy by 3.1% during the 1st quarter. Rye Brook Capital LLC now owns 722,600 shares of the company's stock worth $3,244,000 after acquiring an additional 21,600 shares during the period. Institutional investors own 42.43% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Desjardins began coverage on NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating on the stock. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

NexGen Energy Stock Down 3.4%

Shares of NXE stock traded down $0.23 during mid-day trading on Friday, hitting $6.48. The company's stock had a trading volume of 6,525,625 shares, compared to its average volume of 7,707,089. The business has a 50-day moving average price of $6.70 and a 200 day moving average price of $5.87. NexGen Energy has a 52-week low of $3.91 and a 52-week high of $8.96.

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

About NexGen Energy

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.