PCJ Investment Counsel Ltd. Increases Stock Holdings in NexGen Energy (NYSE:NXE)

Key Points

• PCJ Investment Counsel Ltd. increased its stake in NexGen Energy by 54.8% in Q1, now holding 322,140 shares valued at approximately $1.44 million.
• NexGen Energy's stock is currently down 1.9%, with the price at $6.98 and a market cap of $3.98 billion.
• Analysts have a positive outlook for NexGen Energy, with an average rating of "Buy" and multiple upgrades in recent reports.

PCJ Investment Counsel Ltd. raised its position in NexGen Energy (NYSE:NXE - Free Report) by 54.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 322,140 shares of the company's stock after purchasing an additional 114,050 shares during the period. PCJ Investment Counsel Ltd. owned 0.06% of NexGen Energy worth $1,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in NexGen Energy in the 4th quarter valued at $51,000. Mariner LLC purchased a new position in NexGen Energy in the 4th quarter valued at $68,000. Aptus Capital Advisors LLC purchased a new position in NexGen Energy in the 4th quarter valued at $79,000. Hsbc Holdings PLC lifted its holdings in NexGen Energy by 22.8% in the 4th quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock valued at $124,000 after purchasing an additional 3,473 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in NexGen Energy in the 4th quarter valued at $137,000. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Stock Down 1.9%

NYSE NXE opened at $6.98 on Friday. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $8.96. The business's fifty day simple moving average is $6.75 and its 200-day simple moving average is $5.88. The firm has a market cap of $3.98 billion, a PE ratio of -27.90 and a beta of 1.45.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08). Research analysts expect that NexGen Energy will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Desjardins began coverage on NexGen Energy in a report on Tuesday, June 10th. They issued a "buy" rating on the stock. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy".

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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