Old West Investment Management LLC Acquires 948,773 Shares of NexGen Energy $NXE

Key Points

• Old West Investment Management LLC increased its holdings in NexGen Energy by 94.4%, acquiring an additional 948,773 shares, bringing their total to nearly 1.95 million shares.
• Several institutional investors, including MIRAE ASSET GLOBAL and Vanguard Group, have also recently increased their stakes in NexGen Energy.
• NexGen Energy reported a quarterly loss of ($0.10) earnings per share, missing analysts' consensus estimates, while its stock currently has a consensus rating of "Buy" from research firms.

Old West Investment Management LLC boosted its holdings in NexGen Energy (NYSE:NXE - Free Report) by 94.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,953,753 shares of the company's stock after buying an additional 948,773 shares during the quarter. NexGen Energy makes up approximately 3.2% of Old West Investment Management LLC's investment portfolio, making the stock its 13th largest position. Old West Investment Management LLC owned 0.34% of NexGen Energy worth $8,772,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NexGen Energy by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company's stock worth $230,828,000 after purchasing an additional 501,952 shares during the last quarter. Vanguard Group Inc. raised its holdings in NexGen Energy by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 20,956,792 shares of the company's stock worth $93,928,000 after purchasing an additional 520,279 shares during the last quarter. Alps Advisors Inc. raised its holdings in NexGen Energy by 8.3% during the 1st quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company's stock worth $76,535,000 after purchasing an additional 1,299,255 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in NexGen Energy by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 8,747,305 shares of the company's stock worth $57,659,000 after purchasing an additional 82,413 shares during the last quarter. Finally, Packer & Co Ltd bought a new position in NexGen Energy during the 1st quarter worth approximately $13,581,000. Institutional investors own 42.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NXE. Desjardins began coverage on shares of NexGen Energy in a report on Tuesday, June 10th. They set a "buy" rating for the company. TD Securities restated a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat.com, NexGen Energy currently has a consensus rating of "Buy".

NexGen Energy Stock Up 7.7%

NYSE:NXE opened at $7.0950 on Monday. The company has a fifty day moving average of $6.83 and a 200-day moving average of $5.87. The firm 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 twelve month low of $3.91 and a twelve month high of $8.96.

NexGen Energy (NYSE:NXE - Get Free Report) last released its quarterly earnings data 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). On average, analysts anticipate that NexGen Energy will post -0.05 EPS 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.

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