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 acquired a new stake in shares of NexGen Energy (NYSE:NXE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 90,894 shares of the company's stock, valued at approximately $408,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new stake in shares of NexGen Energy in the fourth quarter valued at $51,000. Mariner LLC acquired a new position in shares of NexGen Energy in the fourth quarter worth $68,000. Aptus Capital Advisors LLC acquired a new position in shares of NexGen Energy in the fourth quarter worth $79,000. Hsbc Holdings PLC increased its stake 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 acquiring an additional 3,473 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new position in shares of NexGen Energy in the fourth quarter worth $137,000. Institutional investors and hedge funds own 42.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NXE. Desjardins began coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They issued a "buy" rating on the stock. Raymond James Financial reiterated an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy".

NexGen Energy Stock Down 3.4%

NXE stock traded down $0.23 during trading on Friday, hitting $6.48. The company had a trading volume of 6,525,625 shares, compared to its average volume of 7,380,721. The firm has a 50-day moving average price of $6.70 and a 200-day moving average price of $5.88. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -40.50 and a beta of 1.45. NexGen Energy has a 12 month low of $3.91 and a 12 month 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 the consensus estimate of ($0.02) by ($0.04). Equities analysts expect that NexGen Energy will post -0.05 EPS for the current year.

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.