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. grew its position in NexGen Energy (NYSE:NXE - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,956,792 shares of the company's stock after purchasing an additional 520,279 shares during the period. Vanguard Group Inc. owned about 3.68% of NexGen Energy worth $93,928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Packer & Co Ltd bought a new stake in shares of NexGen Energy in the 1st quarter valued at $13,581,000. Alps Advisors Inc. grew its stake in NexGen Energy by 8.3% in the first quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company's stock valued at $76,535,000 after acquiring an additional 1,299,255 shares during the period. Encompass Capital Advisors LLC bought a new stake in shares of NexGen Energy in the fourth quarter worth about $7,831,000. Kapitalo Investimentos Ltda bought a new stake in shares of NexGen Energy in the first quarter worth about $4,665,000. Finally, Lloyd Harbor Capital Management LLC raised its position in shares of NexGen Energy by 92.8% during the fourth 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 period. Institutional investors and hedge funds own 42.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NXE. TD Securities reiterated a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. Desjardins assumed coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They issued a "buy" rating on the stock. Two equities research 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, the stock currently has a consensus rating of "Buy".

NexGen Energy Stock Up 0.3%

NexGen Energy stock traded up $0.02 during midday trading on Monday, reaching $7.12. The stock had a trading volume of 7,789,624 shares, compared to its average volume of 6,588,090. The firm's fifty day simple moving average is $6.83 and its 200-day simple moving average is $5.87. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $8.96.

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 for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). On average, analysts predict 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.