Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in NexGen Energy (NYSE:NXE)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in NexGen Energy (NYSE:NXE - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 873,600 shares of the company's stock after selling 45,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.15% of NexGen Energy worth $3,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in shares of NexGen Energy during the fourth quarter valued at approximately $51,000. Mariner LLC purchased a new position in shares of NexGen Energy during the fourth quarter valued at approximately $68,000. Aptus Capital Advisors LLC purchased a new position in shares of NexGen Energy during the fourth quarter valued at approximately $79,000. Hsbc Holdings PLC boosted its position in shares of NexGen Energy by 22.8% during the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock valued at $124,000 after buying an additional 3,473 shares during the period. Finally, Bank of Nova Scotia purchased a new position in shares of NexGen Energy during the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 42.43% of the company's stock.

Analysts Set New Price Targets

NXE has been the subject of several recent analyst reports. TD Securities restated a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. Desjardins started coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating for the company. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy".

NexGen Energy Trading Up 0.6%

Shares of NexGen Energy stock traded up $0.04 on Friday, hitting $6.82. 4,756,085 shares of the company traded hands, compared to its average volume of 6,724,075. The stock's 50 day moving average price is $6.82 and its 200-day moving average price is $5.87. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $8.96. The company has a market cap of $3.89 billion, a PE ratio of -27.28 and a beta of 1.45.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08). As a group, research analysts anticipate that NexGen Energy will post -0.05 EPS for the current fiscal year.

NexGen Energy Company 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.