Packer & Co Ltd Buys Shares of 3,024,793 NexGen Energy (NYSE:NXE)

Packer & Co Ltd bought a new stake in NexGen Energy (NYSE:NXE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,024,793 shares of the company's stock, valued at approximately $13,581,000. NexGen Energy makes up about 4.1% of Packer & Co Ltd's investment portfolio, making the stock its 7th largest position. Packer & Co Ltd owned about 0.53% of NexGen Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of NexGen Energy by 6.7% during the 4th quarter. Invesco Ltd. now owns 26,399 shares of the company's stock worth $174,000 after acquiring an additional 1,656 shares during the period. Cetera Investment Advisers grew its position in NexGen Energy by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock valued at $690,000 after acquiring an additional 2,648 shares in the last quarter. Hsbc Holdings PLC grew 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 worth $124,000 after buying an additional 3,473 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of NexGen Energy by 284.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company's stock worth $33,000 after buying an additional 3,700 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in NexGen Energy by 3.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 134,655 shares of the company's stock worth $888,000 after purchasing an additional 4,176 shares during the period. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Trading Down 3.6%

NXE stock opened at $6.60 on Friday. NexGen Energy has a one year low of $3.91 and a one year high of $8.96. The firm has a market capitalization of $3.76 billion, a PE ratio of -41.22 and a beta of 1.54. The firm has a 50-day moving average of $5.75 and a two-hundred day moving average of $5.96.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). On average, equities research analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

NXE has been the subject of several analyst reports. Stifel Canada raised shares of NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Nicolaus assumed coverage on shares of NexGen Energy in a report on Wednesday, March 12th. They issued a "buy" rating for the company. Raymond James Financial reaffirmed an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Finally, Desjardins assumed coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating for the company. Four analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.

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