Point72 Asset Management L.P. Acquires 620,321 Shares of NexGen Energy Ltd. (NYSE:NXE)

Point72 Asset Management L.P. grew its stake in NexGen Energy Ltd. (NYSE:NXE - Free Report) by 33.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,454,539 shares of the company's stock after acquiring an additional 620,321 shares during the period. Point72 Asset Management L.P. owned 0.43% of NexGen Energy worth $16,169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NXE. PNC Financial Services Group Inc. increased its position in 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 during the last quarter. Altshuler Shaham Ltd bought a new stake in NexGen Energy in the 4th quarter valued at $51,000. Mariner LLC acquired a new stake in NexGen Energy during the 4th quarter valued at $68,000. Silver Lake Advisory LLC bought a new position in NexGen Energy during the fourth quarter worth $73,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of NexGen Energy in the fourth quarter valued at $79,000. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Trading Down 2.9%

Shares of NXE stock opened at $5.46 on Friday. The stock has a market cap of $3.11 billion, a P/E ratio of 36.37 and a beta of 1.50. NexGen Energy Ltd. has a 1 year low of $3.91 and a 1 year high of $8.96. The stock has a 50 day simple moving average of $4.91 and a 200 day simple moving average of $6.21.

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

Analysts Set New Price Targets

NXE has been the subject of a number of research reports. Scotiabank restated an "outperform" rating on shares of NexGen Energy in a research note on Thursday, March 6th. Raymond James reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Stifel Canada raised NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus initiated coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They issued a "buy" rating on the stock. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Strong 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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