NexGen Energy $NXE Shares Acquired by Amundi

Key Points

• Amundi increased its NexGen Energy stake by 45% in the second quarter, acquiring 936,908 additional shares and bringing its holdings to 3.02 million shares valued at approximately $28.4 million.
• Other major investors also expanded their positions, including VanECK, CIBC Asset Management and Millennium Management; institutional investors and hedge funds collectively own 42.43% of NexGen Energy.
• Analyst sentiment is mixed but leans positive, with four Buy ratings, one Hold and one Sell for an overall “Moderate Buy” consensus. NXE shares opened at $9.84, down 3.7%, with a 52-week range of $7.33 to $13.96.

Amundi boosted its stake in NexGen Energy (NYSE:NXE - Free Report) by 45.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,020,476 shares of the company's stock after acquiring an additional 936,908 shares during the period. Amundi owned about 0.45% of NexGen Energy worth $28,362,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NXE. Van ECK Associates Corp lifted its stake in shares of NexGen Energy by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 39,859,017 shares of the company's stock worth $374,256,000 after acquiring an additional 8,459,150 shares during the period. Norges Bank acquired a new position in shares of NexGen Energy during the 4th quarter worth approximately $72,303,000. The Manufacturers Life Insurance Company purchased a new stake in NexGen Energy in the 2nd quarter valued at approximately $68,283,000. CIBC Asset Management Inc lifted its stake in NexGen Energy by 341.9% in the 4th quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company's stock valued at $81,312,000 after buying an additional 6,825,731 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in NexGen Energy by 97.8% during the 3rd 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 last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen raised shares of NexGen Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NexGen Energy in a research report on Friday, August 28th. Finally, Jefferies Financial Group started coverage on shares of NexGen Energy in a report on Thursday, September 3rd. They set a "buy" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

NexGen Energy Trading Down 3.7%

Shares of NYSE:NXE opened at $9.84 on Friday. The company has a 50 day moving average of $9.96 and a 200-day moving average of $10.95. The firm has a market cap of $6.58 billion, a P/E ratio of -24.59 and a beta of 1.40. NexGen Energy has a twelve month low of $7.33 and a twelve month high of $13.96.

NexGen Energy Company Profile

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing mineral projects in the Athabasca Basin of Saskatchewan, Canada. The company's primary asset is the Rook I project, which includes the Arrow uranium deposit and other prospective discoveries.

NexGen is working to develop Rook I into a large-scale uranium mining operation through exploration, resource evaluation, environmental studies, permitting and project planning. The company is not primarily a uranium producer; its activities are centered on discovering and advancing uranium resources for potential future development.

Founded in 2011, NexGen Energy is headquartered in Vancouver, British Columbia, and its operations are focused in Saskatchewan's Athabasca Basin, one of the world's major uranium-producing regions.

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