Northwest & Ethical Investments L.P. Boosts Stake in NexGen Energy $NXE

Key Points

• Northwest & Ethical Investments L.P. significantly increased its ownership in NexGen Energy by 149.0%, acquiring an additional 49,920 shares, bringing its total holdings to 83,421 shares valued at $374,000 as of the recent SEC filing.
• Several institutional investors have also recently changed their positions, increasing interest in NexGen Energy, which is owned 42.43% by institutional investors.
• NexGen Energy reported a quarterly loss of ($0.10) earnings per share, which was below analysts' expectations, with forecasts predicting a projected EPS of -0.05 for the current year.

Northwest & Ethical Investments L.P. grew its holdings in shares of NexGen Energy (NYSE:NXE - Free Report) by 149.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,421 shares of the company's stock after acquiring an additional 49,920 shares during the period. Northwest & Ethical Investments L.P.'s holdings in NexGen Energy were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NXE. Bank of America Corp DE boosted its holdings in NexGen Energy by 16.9% in the 4th quarter. Bank of America Corp DE now owns 1,995,608 shares of the company's stock worth $13,171,000 after buying an additional 288,102 shares during the period. Cetera Investment Advisers boosted its holdings in NexGen Energy by 2.6% in the 4th quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock worth $690,000 after buying an additional 2,648 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in NexGen Energy by 11.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,726 shares of the company's stock worth $178,000 after buying an additional 4,075 shares during the period. Bank of New York Mellon Corp boosted its holdings in NexGen Energy by 7.7% in the 1st quarter. Bank of New York Mellon Corp now owns 2,021,300 shares of the company's stock worth $9,076,000 after buying an additional 144,742 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in NexGen Energy by 64.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 202,953 shares of the company's stock worth $911,000 after buying an additional 79,314 shares during the period. Institutional investors own 42.43% of the company's stock.

NexGen Energy Price Performance

Shares of NYSE NXE traded up $0.5050 during mid-day trading on Friday, hitting $7.0950. 14,098,926 shares of the company's stock traded hands, compared to its average volume of 6,196,561. The company's 50-day moving average is $6.83 and its two-hundred day moving average is $5.88. The company has a market capitalization of $4.05 billion, a P/E ratio of -28.38 and a beta of 1.45. 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 earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). Equities analysts anticipate that NexGen Energy will post -0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NXE. Desjardins began coverage on shares of NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating for the company. TD Securities reaffirmed a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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.