NexGen Energy $NXE Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in NexGen Energy by 1.4%, owning 7,220,545 shares valued at approximately $32.3 million.
• Analysts have positive outlooks for NexGen Energy, with a consensus rating of "Buy", and two analysts assigning a Strong Buy rating.
• NexGen Energy reported a loss of ($0.10) earnings per share for the last quarter, missing the consensus estimate by ($0.08).

The Manufacturers Life Insurance Company grew its position in NexGen Energy (NYSE:NXE - Free Report) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,220,545 shares of the company's stock after buying an additional 98,128 shares during the quarter. The Manufacturers Life Insurance Company owned 1.27% of NexGen Energy worth $32,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE grew its stake in shares of NexGen Energy by 16.9% in the fourth quarter. Bank of America Corp DE now owns 1,995,608 shares of the company's stock valued at $13,171,000 after buying an additional 288,102 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of NexGen Energy by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock valued at $690,000 after buying an additional 2,648 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake 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 valued at $178,000 after buying an additional 4,075 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of NexGen Energy by 7.7% in the first quarter. Bank of New York Mellon Corp now owns 2,021,300 shares of the company's stock valued at $9,076,000 after buying an additional 144,742 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of NexGen Energy by 64.1% in the first quarter. Envestnet Asset Management Inc. now owns 202,953 shares of the company's stock valued at $911,000 after buying an additional 79,314 shares in the last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NXE has been the subject of several analyst reports. TD Securities reissued a "buy" rating on shares of NexGen Energy in a research note on Friday, August 8th. Desjardins initiated coverage on NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy".

NexGen Energy Stock Performance

NYSE NXE traded up $0.17 during trading on Friday, reaching $7.77. 8,561,419 shares of the company's stock were exchanged, compared to its average volume of 6,711,381. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $8.96. The stock has a market cap of $4.44 billion, a P/E ratio of -31.06 and a beta of 1.47. The company has a 50 day moving average price of $6.99 and a two-hundred day moving average price of $5.96.

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