First Trust Advisors LP Buys 179,355 Shares of NexGen Energy $NXE

Key Points

• First Trust Advisors LP increased its NexGen Energy stake by 701.2% in the first quarter, buying 179,355 shares for a total of 204,934 shares valued at approximately $2.38 million.
• Several other institutional investors also raised their positions, and institutional ownership now represents 42.43% of NexGen Energy’s outstanding stock.
• Analyst views remain mixed, resulting in a consensus rating of “Hold”. NXE shares opened at $10.41, with a market capitalization of roughly $6.97 billion and a 52-week range of $6.26 to $13.96.

First Trust Advisors LP raised its stake in NexGen Energy (NYSE:NXE - Free Report) by 701.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,934 shares of the company's stock after buying an additional 179,355 shares during the period. First Trust Advisors LP's holdings in NexGen Energy were worth $2,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Millennium Management LLC lifted its stake in shares of NexGen Energy by 15.3% in the 1st quarter. Millennium Management LLC now owns 4,101,588 shares of the company's stock valued at $18,407,000 after acquiring an additional 543,179 shares during the last quarter. NewEdge Advisors LLC grew its position in NexGen Energy by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company's stock worth $680,000 after acquiring an additional 10,266 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company's stock worth $13,412,000 after purchasing an additional 36,510 shares in the last quarter. Caxton Associates LLP acquired a new position in NexGen Energy in the 1st quarter worth about $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NexGen Energy by 13.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company's stock valued at $3,166,000 after purchasing an additional 81,167 shares during the last quarter. Institutional investors own 42.43% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on NXE shares. Wall Street Zen raised NexGen Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Finally, Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

NexGen Energy Stock Up 1.8%

Shares of NexGen Energy stock opened at $10.41 on Friday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of -26.04 and a beta of 1.40. NexGen Energy has a twelve month low of $6.26 and a twelve month high of $13.96. The company's fifty day moving average is $9.82 and its 200 day moving average is $11.22.

About NexGen Energy

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company's primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen's technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world's most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.

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