Titan Global Capital Management USA LLC Cuts Position in NexGen Energy $NXE

Key Points

• Titan Global Capital Management USA LLC has reduced its holdings in NexGen Energy by 41.2%, selling 286,279 shares during the first quarter, bringing its total ownership to approximately 0.07% valued at $1.83 million.
• Analysts maintain a favorable outlook on NXE, with a consensus rating of "Buy" and notable endorsements from firms such as Desjardins and TD Securities.
• NexGen Energy's stock opened at $6.5750 and has experienced a significant range over the past year, with a low of $3.91 and a high of $8.96.

Titan Global Capital Management USA LLC decreased its position in shares of NexGen Energy (NYSE:NXE - Free Report) by 41.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,000 shares of the company's stock after selling 286,279 shares during the quarter. Titan Global Capital Management USA LLC owned 0.07% of NexGen Energy worth $1,832,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NexGen Energy by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company's stock worth $230,828,000 after purchasing an additional 501,952 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NexGen Energy by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 20,956,792 shares of the company's stock worth $93,928,000 after buying an additional 520,279 shares in the last quarter. Alps Advisors Inc. grew its stake in NexGen Energy by 8.3% in the 1st quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company's stock valued at $76,535,000 after acquiring an additional 1,299,255 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in NexGen Energy by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 8,747,305 shares of the company's stock valued at $57,659,000 after acquiring an additional 82,413 shares in the last quarter. Finally, Packer & Co Ltd acquired a new position in NexGen Energy during the first quarter worth about $13,581,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NXE. Desjardins started coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating for the company. TD Securities reissued a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

NexGen Energy Stock Performance

NexGen Energy stock traded down $0.05 during trading on Wednesday, reaching $7.27. The company had a trading volume of 3,290,326 shares, compared to its average volume of 9,199,763. NexGen Energy has a 12-month low of $3.91 and a 12-month high of $8.96. The stock's 50 day moving average price is $6.84 and its two-hundred day moving average price is $5.88. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of -29.06 and a beta of 1.45.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). As a group, research analysts expect that NexGen Energy will post -0.05 earnings per share 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.