Private Advisor Group LLC Makes New Investment in NexGen Energy (NYSE:NXE)

Key Points

• Private Advisor Group LLC has acquired a new stake in NexGen Energy, purchasing 90,894 shares valued at approximately $408,000 during the 1st quarter.
• Several other institutional investors have also increased their positions in NexGen Energy, with 42.43% of the stock now owned by institutional entities.
• NexGen Energy currently has a consensus rating of "Buy" from analysts, with recent price targets reflecting positive sentiment for the stock.

Private Advisor Group LLC bought a new stake in shares of NexGen Energy (NYSE:NXE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 90,894 shares of the company's stock, valued at approximately $408,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in NexGen Energy by 6.7% during the fourth quarter. Invesco Ltd. now owns 26,399 shares of the company's stock valued at $174,000 after acquiring an additional 1,656 shares during the period. Cetera Investment Advisers raised its holdings in NexGen Energy by 2.6% during 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 during the period. Hsbc Holdings PLC increased its holdings in shares of NexGen Energy by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock worth $124,000 after purchasing an additional 3,473 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of NexGen Energy by 11.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,726 shares of the company's stock worth $178,000 after purchasing an additional 4,075 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of 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 last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Stock Up 3.2%

NYSE NXE traded up $0.21 during trading hours on Monday, hitting $6.69. 2,306,181 shares of the company were exchanged, compared to its average volume of 9,465,770. The stock has a 50-day moving average price of $6.70 and a 200 day moving average price of $5.86. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $8.96. The stock has a market cap of $3.82 billion, a PE ratio of -41.78 and a beta of 1.45.

NexGen Energy (NYSE:NXE - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). As a group, sell-side analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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