Ion Asset Management Ltd. Buys 2,281,100 Shares of NexGen Energy $NXE

Key Points

• Ion Asset Management Ltd. increased its stake in NexGen Energy by 3,404.6% in Q3, buying 2,281,100 shares to hold 2,348,100 shares (about 0.36% of the company) valued at roughly $21.0 million, making NXE ~2.3% of Ion’s portfolio and its 15th largest position.
• NXE carries a consensus "Moderate Buy" from analysts (4 Buy, 1 Hold, 1 Sell) with recent ratings including Raymond James (outperform), UBS (buy) and Weiss (sell); the stock opened at $12.10, has a $7.99B market cap and a 1‑year range of $3.91–$13.96, and recently reported an EPS miss of ($0.05) vs. ($0.03) expected.

Ion Asset Management Ltd. lifted its stake in NexGen Energy (NYSE:NXE - Free Report) by 3,404.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,348,100 shares of the company's stock after buying an additional 2,281,100 shares during the quarter. NexGen Energy makes up about 2.3% of Ion Asset Management Ltd.'s investment portfolio, making the stock its 15th largest position. Ion Asset Management Ltd. owned about 0.36% of NexGen Energy worth $21,015,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in NexGen Energy by 287,500.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,876 shares of the company's stock worth $26,000 after purchasing an additional 2,875 shares in the last quarter. CWM LLC bought a new position in shares of NexGen Energy during the 3rd quarter valued at about $41,000. Flow Traders U.S. LLC purchased a new position in shares of NexGen Energy during the second quarter valued at about $76,000. First Trust Advisors LP bought a new stake in shares of NexGen Energy in the third quarter worth about $94,000. Finally, MGO One Seven LLC bought a new stake in shares of NexGen Energy in the third quarter worth about $110,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James Financial restated an "outperform" rating on shares of NexGen Energy in a report on Wednesday, January 14th. Weiss Ratings reiterated a "sell (d)" rating on shares of NexGen Energy in a report on Thursday, January 22nd. Finally, UBS Group assumed coverage on NexGen Energy in a report on Thursday, March 5th. They set a "buy" rating on the stock. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

NexGen Energy Price Performance

Shares of NYSE:NXE opened at $12.10 on Monday. The firm has a market capitalization of $7.99 billion, a PE ratio of -31.84 and a beta of 1.41. The business has a 50 day simple moving average of $12.08 and a two-hundred day simple moving average of $9.89. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $13.96.

NexGen Energy (NYSE:NXE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Equities research analysts expect that NexGen Energy will post -0.05 EPS for the current fiscal year.

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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