Packer & Co Ltd Buys New Stake in NexGen Energy (NYSE:NXE)

Packer & Co Ltd purchased a new stake in shares of NexGen Energy (NYSE:NXE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,024,793 shares of the company's stock, valued at approximately $13,581,000. NexGen Energy comprises about 4.1% of Packer & Co Ltd's investment portfolio, making the stock its 7th largest holding. Packer & Co Ltd owned about 0.53% of NexGen Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its stake in shares of NexGen Energy by 94.0% during the 4th quarter. Vontobel Holding Ltd. now owns 56,874 shares of the company's stock worth $375,000 after acquiring an additional 27,565 shares during the last quarter. Matauro LLC bought a new stake in shares of NexGen Energy during the fourth quarter worth $84,000. Olympiad Research LP bought a new stake in shares of NexGen Energy during the fourth quarter worth $156,000. Bank of New York Mellon Corp boosted its stake in shares of NexGen Energy by 954.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,876,558 shares of the company's stock valued at $12,385,000 after purchasing an additional 1,698,649 shares during the period. Finally, Canton Hathaway LLC grew its holdings in shares of NexGen Energy by 72.4% in the fourth quarter. Canton Hathaway LLC now owns 29,300 shares of the company's stock worth $193,000 after purchasing an additional 12,300 shares during the last quarter. 42.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Canada upgraded NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Raymond James Financial restated an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Stifel Nicolaus began coverage on NexGen Energy in a report on Wednesday, March 12th. They issued a "buy" rating for the company. Finally, Desjardins initiated coverage on NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating on the stock. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, NexGen Energy presently has an average rating of "Buy".

NexGen Energy Stock Up 1.3%

Shares of NYSE NXE traded up $0.09 during midday trading on Tuesday, reaching $6.77. 10,027,061 shares of the company's stock traded hands, compared to its average volume of 7,518,154. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -42.28 and a beta of 1.54. The stock's 50 day simple moving average is $5.79 and its 200-day simple moving average is $5.92. NexGen Energy has a one year low of $3.91 and a one year high of $8.96.

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

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.