NexGen Energy (NYSE:NXE) Stake Raised by MMCAP International Inc. SPC

Key Points

• MMCAP International Inc. SPC significantly increased its holdings in NexGen Energy by purchasing 950,007 shares, raising its total ownership to 1,050,007 shares, valued at approximately $4.7 million.
• Institutional investors collectively own 42.43% of NexGen Energy's stock, with several funds like Bank of America and Envestnet Asset Management also increasing their stakes in recent months.
• NexGen Energy's stock recently reported a 1.4% decrease, opening at $6.88, despite having a market capitalization of $3.93 billion and analysts maintaining a consensus "Buy" rating.

MMCAP International Inc. SPC lifted its stake in shares of NexGen Energy (NYSE:NXE - Free Report) by 950.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,050,007 shares of the company's stock after purchasing an additional 950,007 shares during the period. MMCAP International Inc. SPC owned about 0.18% of NexGen Energy worth $4,715,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of NexGen Energy during the fourth quarter worth about $51,000. Mariner LLC bought a new position in shares of NexGen Energy during the fourth quarter worth about $68,000. Aptus Capital Advisors LLC bought a new position in shares of NexGen Energy during the fourth quarter worth about $79,000. Hsbc Holdings PLC lifted its position in shares of NexGen Energy by 22.8% during the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock worth $124,000 after purchasing an additional 3,473 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of NexGen Energy during the fourth quarter worth about $137,000. Institutional investors own 42.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Desjardins assumed coverage on shares of NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating on the stock. TD Securities reissued a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

NexGen Energy Trading Up 0.7%

NYSE NXE traded up $0.05 during trading hours on Thursday, reaching $6.83. The company's stock had a trading volume of 1,186,306 shares, compared to its average volume of 9,286,234. The business has a 50-day simple moving average of $6.80 and a 200 day simple moving average of $5.87. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $8.96. The stock has a market cap of $3.90 billion, a PE ratio of -27.30 and a beta of 1.45.

NexGen Energy (NYSE:NXE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). As a group, equities analysts predict that NexGen Energy will post -0.05 EPS 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.