NexGen Energy $NXE Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its position in NexGen Energy (NYSE:NXE) by 14.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,281,117 shares of the company’s stock after selling 905,789 shares during the period. Royal Bank of Canada’s holdings in NexGen Energy were worth $61,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leonteq Securities AG raised its stake in shares of NexGen Energy by 88.2% in the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock worth $28,000 after purchasing an additional 1,098 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in NexGen Energy by 454.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock valued at $73,000 after buying an additional 6,528 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in NexGen Energy in the second quarter valued at approximately $76,000. Jump Financial LLC acquired a new position in NexGen Energy in the 4th quarter worth approximately $93,000. Finally, First Trust Advisors LP purchased a new position in NexGen Energy during the 3rd quarter worth approximately $94,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Stock Down 1.8%

Shares of NXE stock opened at $9.16 on Friday. The stock has a market cap of $6.13 billion, a PE ratio of -18.69 and a beta of 1.39. The business has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $11.28. NexGen Energy has a 52-week low of $6.26 and a 52-week high of $13.96.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NXE. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NexGen Energy presently has a consensus rating of “Moderate Buy”.

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.