NexGen Energy $NXE Stock: Alps Advisors Inc. Grows Position

Key Points

• Alps Advisors increased its NexGen Energy position by 13% in the third quarter, adding about 3.21 million shares to hold 27.88 million shares, valued at roughly $254.3 million.
• Institutional investors and hedge funds own 42.43% of NexGen Energy; several other investors also increased their holdings or initiated positions.
• Analysts have a “Moderate Buy” consensus and a $14 average price target, while the stock opened at $8.25 and traded below its 50-day and 200-day moving averages.

Alps Advisors Inc. increased its position in NexGen Energy (NYSE:NXE - Free Report) by 13.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,879,166 shares of the company's stock after purchasing an additional 3,208,684 shares during the period. NexGen Energy accounts for about 1.1% of Alps Advisors Inc.'s investment portfolio, making the stock its 16th biggest holding. Alps Advisors Inc. owned about 4.17% of NexGen Energy worth $254,258,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Guardian Partners Inc. boosted its position in shares of NexGen Energy by 43.3% in the third quarter. Guardian Partners Inc. now owns 4,300 shares of the company's stock valued at $39,000 after acquiring an additional 1,300 shares during the period. Themes Management Co LLC lifted its stake in NexGen Energy by 6.7% during the 1st quarter. Themes Management Co LLC now owns 76,340 shares of the company's stock valued at $886,000 after acquiring an additional 4,788 shares during the period. Trifecta Capital Advisors LLC bought a new position in shares of NexGen Energy in the second quarter worth about $46,000. Wealthspire Retirement LLC boosted its holdings in NexGen Energy by 32.3% during the 1st quarter. Wealthspire Retirement LLC now owns 20,500 shares of the company's stock valued at $238,000 after acquiring an additional 5,000 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of NexGen Energy in the 2nd quarter worth $62,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Trading Up 4.0%

NXE opened at $8.25 on Friday. The business's 50-day simple moving average is $9.11 and its 200 day simple moving average is $10.66. NexGen Energy has a 52-week low of $7.33 and a 52-week high of $13.96.

Analysts Set New Price Targets

Several research firms recently commented on NXE. Wall Street Zen raised NexGen Energy from a "strong sell" rating to a "sell" rating in a report on Sunday, October 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of NexGen Energy in a research report on Friday, August 28th. 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. Finally, JPMorgan Chase & Co. began coverage on NexGen Energy in a report on Monday, September 21st. They issued an "overweight" rating and a $14.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

About NexGen Energy

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing projects in the Athabasca Basin of Saskatchewan, Canada. The company's primary asset is the 100%-owned Rook I property, which hosts the Arrow uranium deposit and other discoveries.

NexGen's main objective is to develop Rook I into a large-scale uranium mining and processing operation. The company conducts exploration, resource evaluation, engineering, environmental assessment and project permitting activities, rather than currently selling uranium or operating a producing mine.

Want to see what other hedge funds are holding NXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NexGen Energy (NYSE:NXE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.