Alps Advisors Inc. Increases Stake in NexGen Energy (NYSE:NXE)

Alps Advisors Inc. increased its stake in shares of NexGen Energy (NYSE:NXE - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,045,672 shares of the company's stock after purchasing an additional 1,299,255 shares during the quarter. NexGen Energy makes up 0.4% of Alps Advisors Inc.'s holdings, making the stock its 17th largest position. Alps Advisors Inc. owned 2.99% of NexGen Energy worth $76,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in NXE. JPMorgan Chase & Co. raised its stake in NexGen Energy by 222.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock valued at $41,882,000 after buying an additional 4,378,933 shares during the last quarter. Packer & Co Ltd purchased a new stake in NexGen Energy in the first quarter valued at about $13,581,000. Bank of New York Mellon Corp raised its stake in NexGen Energy by 954.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,876,558 shares of the company's stock valued at $12,385,000 after buying an additional 1,698,649 shares during the last quarter. Marshall Wace LLP raised its stake in NexGen Energy by 131.8% in the fourth quarter. Marshall Wace LLP now owns 2,224,419 shares of the company's stock valued at $14,681,000 after buying an additional 1,264,655 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in NexGen Energy in the fourth quarter valued at about $7,831,000. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Trading Up 1.7%

Shares of NXE stock traded up $0.11 during mid-day trading on Friday, reaching $6.62. The stock had a trading volume of 6,391,465 shares, compared to its average volume of 7,769,736. The business's fifty day moving average is $6.29 and its 200-day moving average is $5.87. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -41.37 and a beta of 1.55. 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 announced its quarterly earnings data on Monday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). On average, analysts forecast that NexGen Energy will post -0.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on NXE shares. Raymond James Financial reiterated an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Desjardins started coverage on NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NexGen Energy has an average rating of "Buy".

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.