Northwestern Mutual Wealth Management Co. Makes New Investment in NexGen Energy $NXE

Northwestern Mutual Wealth Management Co. acquired a new stake in NexGen Energy (NYSE:NXE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 53,147 shares of the company’s stock, valued at approximately $499,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in NexGen Energy in the second quarter valued at about $1,024,000. De Lisle Partners LLP acquired a new stake in NexGen Energy during the second quarter valued at approximately $9,040,000. Ninepoint Partners LP acquired a new stake in NexGen Energy during the second quarter valued at approximately $3,333,000. Turim 21 Investimentos Ltda. acquired a new position in shares of NexGen Energy in the 2nd quarter worth approximately $1,634,000. Finally, Knuff & Co LLC acquired a new position in shares of NexGen Energy in the 2nd quarter worth approximately $106,000. 42.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on NXE shares. Wall Street Zen raised NexGen Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Finally, Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

NexGen Energy Trading Down 1.1%

Shares of NYSE NXE opened at $11.09 on Thursday. NexGen Energy has a 1-year low of $7.17 and a 1-year high of $13.96. The company has a 50-day moving average of $9.83 and a two-hundred day moving average of $11.05. The company has a market cap of $7.42 billion, a PE ratio of -27.72 and a beta of 1.40.

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.