Titan Global Capital Management USA LLC Has $1.83 Million Holdings 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 reduced its holdings in shares of NexGen Energy (NYSE:NXE - Free Report) by 41.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 408,000 shares of the company's stock after selling 286,279 shares during the period. Titan Global Capital Management USA LLC owned about 0.07% of NexGen Energy worth $1,832,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NXE. Bank of America Corp DE lifted its holdings in shares of NexGen Energy by 16.9% in the 4th quarter. Bank of America Corp DE now owns 1,995,608 shares of the company's stock worth $13,171,000 after acquiring an additional 288,102 shares during the last quarter. Cetera Investment Advisers grew its position in shares of NexGen Energy by 2.6% in the 4th quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock worth $690,000 after buying an additional 2,648 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of NexGen Energy by 11.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,726 shares of the company's stock worth $178,000 after buying an additional 4,075 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NexGen Energy by 7.7% in the 1st quarter. Bank of New York Mellon Corp now owns 2,021,300 shares of the company's stock worth $9,076,000 after buying an additional 144,742 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in NexGen Energy by 64.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 202,953 shares of the company's stock worth $911,000 after purchasing an additional 79,314 shares during the last quarter. 42.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NXE. Desjardins initiated coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They issued a "buy" rating for the company. TD Securities reaffirmed a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, NexGen Energy has an average rating of "Buy".

NexGen Energy Trading Up 0.3%

Shares of NYSE:NXE traded up $0.02 during midday trading on Monday, hitting $7.12. 7,789,624 shares of the stock were exchanged, compared to its average volume of 9,248,729. The stock has a market cap of $4.07 billion, a P/E ratio of -28.48 and a beta of 1.45. NexGen Energy has a twelve month low of $3.91 and a twelve month high of $8.96. The company has a 50 day moving average price of $6.83 and a 200-day moving average price of $5.87.

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

NexGen Energy Company 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.