NexGen Energy $NXE Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of NexGen Energy (NYSE:NXE) by 80.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,268 shares of the company’s stock after selling 55,873 shares during the quarter. Hsbc Holdings PLC’s holdings in NexGen Energy were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NXE. Norges Bank purchased a new stake in shares of NexGen Energy during the fourth quarter valued at $72,303,000. CIBC Asset Management Inc increased its stake in NexGen Energy by 341.9% in the 4th quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company’s stock worth $81,312,000 after purchasing an additional 6,825,731 shares in the last quarter. Van ECK Associates Corp increased its stake in NexGen Energy by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock worth $268,240,000 after purchasing an additional 5,523,932 shares in the last quarter. Millennium Management LLC increased its stake in NexGen Energy by 97.8% in the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after purchasing an additional 5,011,890 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock worth $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 and hedge funds.

NexGen Energy Stock Performance

Shares of NXE opened at $9.75 on Wednesday. The company has a market capitalization of $6.52 billion, a PE ratio of -19.90 and a beta of 1.40. The company’s 50 day moving average price is $9.89 and its 200 day moving average price is $11.25. NexGen Energy has a 52 week low of $6.26 and a 52 week high of $13.96.

Analysts Set New Price Targets

A number of research firms have commented on NXE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.