Violich Capital Management Inc. Cuts Stock Position in NexGen Energy $NXE

Key Points

• Violich Capital Management Inc. has reduced its stake in NexGen Energy by 50.2%, now holding 45,400 shares valued at approximately $315,000 as of the latest reporting period.
• In contrast, TD Asset Management increased its position by 30.1% during the same quarter, now owning over 3.2 million shares worth around $22.9 million.
• Analysts have varied opinions on the stock, with ratings ranging from "Strong Buy" to "Sell", and an overall average rating of "Moderate Buy."

Violich Capital Management Inc. lowered its position in NexGen Energy (NYSE:NXE - Free Report) by 50.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,400 shares of the company's stock after selling 45,700 shares during the quarter. Violich Capital Management Inc.'s holdings in NexGen Energy were worth $315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its position in shares of NexGen Energy by 30.1% during the second quarter. TD Asset Management Inc now owns 3,298,902 shares of the company's stock worth $22,871,000 after acquiring an additional 762,364 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in NexGen Energy by 139.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,833 shares of the company's stock valued at $256,000 after buying an additional 21,445 shares during the period. Verde Servicos Internacionais S.A. acquired a new position in NexGen Energy during the 2nd quarter worth approximately $868,000. Rye Brook Capital LLC raised its position in shares of NexGen Energy by 6.3% in the 2nd quarter. Rye Brook Capital LLC now owns 767,900 shares of the company's stock valued at $5,329,000 after purchasing an additional 45,300 shares in the last quarter. Finally, Sava Infond d.o.o. raised its position in shares of NexGen Energy by 14.3% in the 2nd quarter. Sava Infond d.o.o. now owns 16,000 shares of the company's stock valued at $111,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NXE shares. Zacks Research upgraded NexGen Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, October 13th. TD Securities reaffirmed a "buy" rating on shares of NexGen Energy in a research note on Friday, August 8th. Raymond James Financial reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of NexGen Energy in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

NexGen Energy Stock Performance

NYSE NXE opened at $8.44 on Friday. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $9.80. The stock has a fifty day moving average of $8.08 and a 200-day moving average of $6.74. The stock has a market capitalization of $5.13 billion, a P/E ratio of -33.74 and a beta of 1.44.

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

About NexGen Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.