NewEdge Advisors LLC Sells 167,712 Shares of NexGen Energy $NXE

Key Points

• NewEdge Advisors LLC cut its NexGen Energy stake by 94.8% in the first quarter, selling 167,712 shares and retaining 9,188 shares valued at approximately $107,000.
• Several major institutions increased their positions, including VanECK Associates, Vanguard, L1 Capital and Millennium Management. Institutional investors collectively own 42.43% of NexGen Energy.
• NXE shares opened at $11.09, within a 52-week range of $7.17 to $13.96. Analyst sentiment is mixed, with the stock carrying an average “Hold” rating despite three Buy ratings.

NewEdge Advisors LLC trimmed its holdings in NexGen Energy (NYSE:NXE - Free Report) by 94.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,188 shares of the company's stock after selling 167,712 shares during the quarter. NewEdge Advisors LLC's holdings in NexGen Energy were worth $107,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. L1 Capital Pty Ltd raised its position in NexGen Energy by 9.1% in the 4th quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company's stock worth $309,145,000 after purchasing an additional 2,804,090 shares during the period. Van ECK Associates Corp boosted its position in NexGen Energy by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company's stock valued at $268,240,000 after buying an additional 5,523,932 shares during the period. Vanguard Group Inc. boosted its position in 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 boosted its position in 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 grew its stake in shares of NexGen Energy by 10.0% during the fourth quarter. Hancock Prospecting Pty Ltd now owns 9,078,245 shares of the company's stock valued at $83,656,000 after buying an additional 828,245 shares during the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Stock Performance

Shares of NXE stock opened at $11.09 on Thursday. NexGen Energy has a fifty-two week low of $7.17 and a fifty-two week high of $13.96. The firm has a market cap of $7.42 billion, a P/E ratio of -27.72 and a beta of 1.40. The business's 50 day moving average price is $9.83 and its 200-day moving average price is $11.05.

Analyst Ratings Changes

NXE has been the topic of several analyst reports. Wall Street Zen upgraded NexGen Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Scotiabank restated an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. 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 data from MarketBeat, the stock currently has an average 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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