Old West Investment Management LLC Increases Stake in NexGen Energy $NXE

Old West Investment Management LLC lifted its stake in shares of NexGen Energy (NYSE:NXE) by 29.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,534,801 shares of the company’s stock after acquiring an additional 581,048 shares during the period. NexGen Energy makes up about 5.8% of Old West Investment Management LLC’s investment portfolio, making the stock its largest holding. Old West Investment Management LLC owned about 0.44% of NexGen Energy worth $17,604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Compound Planning Inc. acquired a new position in NexGen Energy in the 1st quarter worth $46,000. PenderFund Capital Management Ltd. boosted its position in shares of NexGen Energy by 45.0% during the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company’s stock worth $52,000 after buying an additional 3,600 shares during the period. Ground Swell Capital LLC bought a new position in shares of NexGen Energy during the first quarter worth about $55,000. Canton Hathaway LLC bought a new position in shares of NexGen Energy during the second quarter worth about $57,000. Finally, DekaBank Deutsche Girozentrale raised its position in NexGen Energy by 318.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 11,651 shares of the company’s stock valued at $77,000 after buying an additional 8,866 shares during the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Price Performance

NexGen Energy stock opened at $8.09 on Friday. The company’s 50-day moving average is $8.70 and its 200-day moving average is $7.29. The firm has a market capitalization of $5.29 billion, a PE ratio of -32.36 and a beta of 1.44. NexGen Energy has a fifty-two week low of $3.91 and a fifty-two week high of $9.95.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). As a group, analysts expect that NexGen Energy will post -0.05 EPS for the current year.

Analysts Set New Price Targets

NXE has been the subject of a number of recent research reports. Zacks Research raised NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. TD Securities restated a “buy” rating on shares of NexGen Energy in a report on Friday, August 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of NexGen Energy in a research note on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

NexGen Energy 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.