Voya Investment Management LLC Trims Holdings in NexGen Energy $NXE

Key Points

• Voya Investment Management LLC reduced its stake in NexGen Energy by 19.5% in the first quarter, selling 213,484 shares and holding a total of 879,347 shares valued at approximately $3.95 million.
• Other institutional investors, including UBS AM and Goldman Sachs, have also adjusted their holdings in NexGen Energy, showcasing a mixed investment sentiment among hedge funds.
• NexGen Energy's stock price opened at $8.81, with a market cap of $5.06 billion, despite recent earnings falling short of expectations by $0.08 per share.

Voya Investment Management LLC trimmed its position in NexGen Energy (NYSE:NXE - Free Report) by 19.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 879,347 shares of the company's stock after selling 213,484 shares during the quarter. Voya Investment Management LLC owned 0.15% of NexGen Energy worth $3,948,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NXE. BNP Paribas Financial Markets purchased a new stake in shares of NexGen Energy in the 4th quarter worth $207,000. Cetera Investment Advisers lifted its stake in shares of NexGen Energy by 2.6% during the 4th quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock worth $690,000 after purchasing an additional 2,648 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of NexGen Energy by 100.3% during the 4th quarter. Tidal Investments LLC now owns 62,617 shares of the company's stock worth $413,000 after purchasing an additional 31,362 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of NexGen Energy by 38.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 623,857 shares of the company's stock worth $4,117,000 after purchasing an additional 172,499 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of NexGen Energy by 3.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 134,655 shares of the company's stock worth $888,000 after purchasing an additional 4,176 shares during the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NXE shares. TD Securities reaffirmed a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. Desjardins started coverage on shares of NexGen Energy in a research report on Tuesday, June 10th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

NexGen Energy Price Performance

NexGen Energy stock traded up $0.10 during midday trading on Tuesday, reaching $9.03. The company's stock had a trading volume of 1,769,060 shares, compared to its average volume of 9,082,009. NexGen Energy has a 52-week low of $3.91 and a 52-week high of $9.08. The stock has a market capitalization of $5.19 billion, a P/E ratio of -36.14 and a beta of 1.46. The stock's 50-day simple moving average is $7.32 and its 200-day simple moving average is $6.20.

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