L1 Capital Pty Ltd Raises Stock Position in NexGen Energy $NXE

L1 Capital Pty Ltd boosted its position in shares of NexGen Energy (NYSE:NXE) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,642,681 shares of the company’s stock after purchasing an additional 2,804,090 shares during the period. NexGen Energy comprises 16.1% of L1 Capital Pty Ltd’s holdings, making the stock its 2nd biggest holding. L1 Capital Pty Ltd owned approximately 5.09% of NexGen Energy worth $309,145,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NXE. Norges Bank bought a new position in NexGen Energy during the 4th quarter valued at about $72,303,000. CIBC Asset Management Inc grew its holdings in NexGen Energy by 341.9% during the 4th quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company’s stock valued at $81,312,000 after purchasing an additional 6,825,731 shares during the last quarter. Van ECK Associates Corp grew its holdings in NexGen Energy by 28.9% during the 3rd quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock valued at $211,517,000 after purchasing an additional 5,305,263 shares during the last quarter. Millennium Management LLC grew its holdings in NexGen Energy by 97.8% during the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock valued at $90,718,000 after purchasing an additional 5,011,890 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in NexGen Energy by 15.5% in the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock valued at $226,901,000 after buying an additional 3,304,071 shares during the period. 42.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NXE has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. Finally, UBS Group started coverage on shares of NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

NexGen Energy Price Performance

NYSE:NXE opened at $9.84 on Friday. The firm has a market capitalization of $6.51 billion, a P/E ratio of -20.07 and a beta of 1.35. NexGen Energy has a 1-year low of $6.26 and a 1-year high of $13.96. The company’s fifty day moving average price is $11.58 and its 200-day moving average price is $11.21.

NexGen Energy 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.