Ninepoint Partners LP Invests $3.33 Million in NexGen Energy $NXE

Key Points

• Ninepoint Partners LP purchased 355,000 shares of NexGen Energy in the second quarter, valued at approximately $3.33 million and representing about 0.05% of the company.
• Institutional investors own 42.43% of NexGen Energy, with several major funds—including L1 Capital, VanECK Associates and Vanguard—boosting their positions.
• NexGen shares opened at $10.22, within a 52-week range of $6.40 to $13.96. Analyst sentiment is mixed, with three Buy ratings, one Hold and one Sell, resulting in a consensus “Hold” rating.

Ninepoint Partners LP purchased a new position in NexGen Energy (NYSE:NXE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 355,000 shares of the company's stock, valued at approximately $3,333,000. Ninepoint Partners LP owned approximately 0.05% of NexGen Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NXE. L1 Capital Pty Ltd grew its position in shares of NexGen Energy by 9.1% in the 4th quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company's stock worth $309,145,000 after acquiring an additional 2,804,090 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of NexGen Energy by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company's stock worth $268,240,000 after buying an additional 5,523,932 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NexGen Energy by 15.5% in the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company's stock valued at $226,901,000 after buying an additional 3,304,071 shares during the period. Millennium Management LLC grew its position in shares of NexGen Energy by 97.8% during the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company's stock valued at $90,718,000 after buying an additional 5,011,890 shares during the last quarter. Finally, Hancock Prospecting Pty Ltd grew its position in shares of NexGen Energy by 10.0% during the 4th quarter. Hancock Prospecting Pty Ltd now owns 9,078,245 shares of the company's stock valued at $83,656,000 after buying an additional 828,245 shares during the last quarter. 42.43% of the stock is owned by institutional investors.

NexGen Energy Stock Down 3.2%

Shares of NYSE NXE opened at $10.22 on Friday. The stock has a market cap of $6.84 billion, a P/E ratio of -25.55 and a beta of 1.40. The firm's 50-day simple moving average is $9.78 and its 200 day simple moving average is $11.08. NexGen Energy has a fifty-two week low of $6.40 and a fifty-two week high of $13.96.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NXE shares. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Finally, Wall Street Zen raised NexGen Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NexGen Energy currently has an average rating of "Hold".

NexGen Energy Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company's primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen's technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world's most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source