Van ECK Associates Corp Buys 5,305,263 Shares of NexGen Energy $NXE

Key Points

• Van ECK Associates Corp increased its stake in NexGen Energy by 28.9%, purchasing 5,305,263 shares to hold 23,633,124 shares (about 3.61% of the company) valued at roughly $211.5 million.
• NXE shares were up 4.5% (opened at $12.64) and the stock carries a market capitalization of $8.35 billion, a 52‑week range of $3.91–$13.96, and a negative P/E of -33.26.
• NexGen missed quarterly EPS (reported -$0.05 vs. consensus -$0.03) and analyst coverage is mixed but shows a consensus of "Moderate Buy" (1 Strong Buy, 4 Buy, 1 Hold, 1 Sell).

Van ECK Associates Corp lifted its stake in NexGen Energy (NYSE:NXE - Free Report) by 28.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,633,124 shares of the company's stock after buying an additional 5,305,263 shares during the quarter. Van ECK Associates Corp owned about 3.61% of NexGen Energy worth $211,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NXE. Versant Capital Management Inc lifted its stake in shares of NexGen Energy by 287,500.0% during the 3rd quarter. Versant Capital Management Inc now owns 2,876 shares of the company's stock valued at $26,000 after buying an additional 2,875 shares in the last quarter. CWM LLC bought a new position in NexGen Energy in the 3rd quarter worth approximately $41,000. Olympiad Research LP bought a new stake in shares of NexGen Energy during the second quarter valued at approximately $73,000. Flow Traders U.S. LLC purchased a new position in NexGen Energy during the second quarter valued at $76,000. Finally, First Trust Advisors LP purchased a new stake in NexGen Energy in the 3rd quarter worth $94,000. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Stock Up 4.5%

NYSE NXE opened at $12.64 on Tuesday. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $13.96. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of -33.26 and a beta of 1.41. The company has a fifty day moving average of $11.83 and a two-hundred day moving average of $9.74.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). Equities research analysts anticipate that NexGen Energy will post -0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NXE shares. Weiss Ratings reiterated a "sell (d)" rating on shares of NexGen Energy in a research report on Thursday, January 22nd. Raymond James Financial reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Wednesday, January 14th. Finally, UBS Group started coverage on shares of NexGen Energy in a research report on Thursday, March 5th. They issued a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company's primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen's technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world's most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.

Want to see what other hedge funds are holding NXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NexGen Energy (NYSE:NXE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.