National Bank of Canada FI Lowers Position in NexGen Energy $NXE

Key Points

• National Bank of Canada FI reduced its holdings in NexGen Energy by 11.7%, selling 49,539 shares to hold 375,453 shares, valued at approximately $1.67 million.
• Several other hedge funds have increased their stakes in NexGen Energy, including Hsbc Holdings PLC with a 22.8% increase and Aptus Capital Advisors LLC acquiring new shares.
• NexGen Energy recently reported a loss of ($0.10) earnings per share, missing the consensus estimate by ($0.08), with analysts projecting a forecast of -0.05 EPS for the current fiscal year.

National Bank of Canada FI lessened its stake in shares of NexGen Energy (NYSE:NXE - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,453 shares of the company's stock after selling 49,539 shares during the period. National Bank of Canada FI owned approximately 0.07% of NexGen Energy worth $1,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in NexGen Energy by 6.7% during the 4th quarter. Invesco Ltd. now owns 26,399 shares of the company's stock valued at $174,000 after buying an additional 1,656 shares in the last quarter. Cetera Investment Advisers increased its position in NexGen Energy by 2.6% during the 4th quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock valued at $690,000 after buying an additional 2,648 shares in the last quarter. Mackenzie Financial Corp increased its position in NexGen Energy by 1.3% during the 1st quarter. Mackenzie Financial Corp now owns 233,457 shares of the company's stock valued at $1,046,000 after buying an additional 2,933 shares in the last quarter. Hsbc Holdings PLC increased its position in NexGen Energy by 22.8% during the 4th quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock valued at $124,000 after buying an additional 3,473 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in NexGen Energy by 11.4% during 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 in the last quarter. Institutional investors own 42.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NXE. TD Securities reaffirmed a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. Desjardins initiated coverage on NexGen Energy in a research report on Tuesday, June 10th. They set a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, NexGen Energy currently has a consensus rating of "Buy".

NexGen Energy Stock Performance

Shares of NXE stock traded down $0.3450 on Tuesday, reaching $6.6750. The stock had a trading volume of 2,187,130 shares, compared to its average volume of 9,208,727. The stock has a market cap of $3.81 billion, a P/E ratio of -26.70 and a beta of 1.45. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $8.96. The company has a 50 day simple moving average of $6.83 and a 200 day simple moving average of $5.86.

NexGen Energy (NYSE:NXE - Get Free Report) last released its quarterly 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). On average, equities research analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current fiscal 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.