Persistent Asset Partners Ltd Makes New Investment in NexGen Energy $NXE

Key Points

• Persistent Asset Partners acquired 226,741 NexGen Energy shares in the second quarter, worth approximately $2.13 million. Institutional investors and hedge funds collectively own 42.43% of the company.
• NexGen Energy shares opened at $10.38, with a market capitalization of about $6.95 billion. The stock has traded between $6.26 and $13.96 over the past 12 months.
• Analyst sentiment is mixed: three analysts rate the stock Buy, one rates it Hold, and one rates it Sell, resulting in a consensus rating of Hold.

Persistent Asset Partners Ltd acquired a new stake in NexGen Energy (NYSE:NXE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 226,741 shares of the company's stock, valued at approximately $2,126,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in NexGen Energy by 15.3% during the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company's stock worth $18,407,000 after buying an additional 543,179 shares during the period. NewEdge Advisors LLC boosted its stake in NexGen Energy by 7.3% in the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company's stock worth $680,000 after buying an additional 10,266 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company's stock valued at $13,412,000 after buying an additional 36,510 shares during the period. Caxton Associates LLP purchased a new stake in NexGen Energy in the 1st quarter valued at about $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NexGen Energy by 13.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company's stock valued at $3,166,000 after acquiring an additional 81,167 shares during the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Price Performance

Shares of NYSE:NXE opened at $10.38 on Monday. The firm has a market capitalization of $6.95 billion, a PE ratio of -25.95 and a beta of 1.40. The business has a 50-day moving average of $9.73 and a two-hundred day moving average of $11.15. NexGen Energy has a 12 month low of $6.26 and a 12 month high of $13.96.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th. Wall Street Zen upgraded shares of NexGen Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NexGen Energy has a consensus rating of "Hold".

NexGen Energy Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company's primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen's technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world's most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.

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