Legal & General Group Plc Takes Position in NexGen Energy $NXE

Key Points

• Legal & General Group Plc acquired 690,333 shares of NexGen Energy in the second quarter, worth approximately $6.48 million and representing a 0.10% stake.
• Institutional investors collectively own 42.43% of NexGen Energy, with major holders including L1 Capital, VanECK Associates, Vanguard and Millennium Management increasing their positions.
• NexGen Energy shares opened at $10.22, within a 52-week range of $7.33 to $13.96. Analysts have a consensus “Hold” rating, despite three Buy ratings, one Hold and one Sell.

Legal & General Group Plc purchased a new stake in NexGen Energy (NYSE:NXE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 690,333 shares of the company's stock, valued at approximately $6,481,000. Legal & General Group Plc owned 0.10% of NexGen Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. L1 Capital Pty Ltd raised its position in NexGen Energy by 9.1% during the 4th quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company's stock valued at $309,145,000 after purchasing an additional 2,804,090 shares in the last quarter. Van ECK Associates Corp grew its position in shares of NexGen Energy by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company's stock worth $268,240,000 after buying an additional 5,523,932 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NexGen Energy by 15.5% during the fourth quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company's stock valued at $226,901,000 after buying an additional 3,304,071 shares during the period. Millennium Management LLC increased its stake in shares of NexGen Energy by 97.8% during the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company's stock valued at $90,718,000 after buying an additional 5,011,890 shares during the period. Finally, Hancock Prospecting Pty Ltd raised its holdings in shares of NexGen Energy by 10.0% in the fourth quarter. Hancock Prospecting Pty Ltd now owns 9,078,245 shares of the company's stock valued at $83,656,000 after acquiring an additional 828,245 shares in the last quarter. Institutional investors own 42.43% of the company's stock.

NexGen Energy Price Performance

Shares of NYSE NXE opened at $10.22 on Thursday. NexGen Energy has a 1-year low of $7.33 and a 1-year high of $13.96. The business has a fifty day moving average price of $9.83 and a 200 day moving average price of $11.01. The stock has a market capitalization of $6.84 billion, a P/E ratio of -25.56 and a beta of 1.40.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NXE. Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a research note on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of NexGen Energy in a report on Friday, August 28th. Finally, Wall Street Zen raised shares of NexGen Energy from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NexGen Energy currently has a consensus rating of "Hold".

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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