Vanguard Group Inc. Buys 520,279 Shares of NexGen Energy $NXE

Key Points

• Vanguard Group Inc. increased its stake in NexGen Energy by 2.5%, owning nearly 3.68% of the company, valued at approximately $93.9 million.
• Several other institutional investors also adjusted their positions, contributing to a total institutional ownership of 42.43% in NexGen Energy.
• NexGen Energy reported an earnings per share of (-$0.10) in its latest results, falling short of analyst expectations for (-$0.02).

Vanguard Group Inc. boosted its stake in NexGen Energy (NYSE:NXE - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,956,792 shares of the company's stock after buying an additional 520,279 shares during the quarter. Vanguard Group Inc. owned approximately 3.68% of NexGen Energy worth $93,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NXE. Packer & Co Ltd purchased a new stake in NexGen Energy in the 1st quarter worth approximately $13,581,000. Alps Advisors Inc. increased its stake in shares of NexGen Energy by 8.3% during the 1st quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company's stock worth $76,535,000 after purchasing an additional 1,299,255 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of NexGen Energy during the 4th quarter worth $7,831,000. Kapitalo Investimentos Ltda acquired a new position in shares of NexGen Energy during the 1st quarter worth $4,665,000. Finally, Lloyd Harbor Capital Management LLC increased its stake in shares of NexGen Energy by 92.8% during the 4th quarter. Lloyd Harbor Capital Management LLC now owns 1,912,817 shares of the company's stock worth $12,625,000 after purchasing an additional 920,730 shares during the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Price Performance

NYSE:NXE traded up $0.19 during midday trading on Thursday, reaching $7.43. The stock had a trading volume of 6,415,865 shares, compared to its average volume of 6,734,484. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $8.96. The firm's fifty day simple moving average is $6.86 and its 200-day simple moving average is $5.90. The stock has a market capitalization of $4.25 billion, a P/E ratio of -29.73 and a beta of 1.45.

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Desjardins assumed coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating on the stock. TD Securities restated a "buy" rating on shares of NexGen Energy in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy".

About NexGen Energy

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.