CIBC Asset Management Inc Purchases 6,825,731 Shares of NexGen Energy $NXE

CIBC Asset Management Inc grew its position in NexGen Energy (NYSE:NXE) by 341.9% in the fourth quarter, Holdings Channel reports. The fund owned 8,821,855 shares of the company’s stock after acquiring an additional 6,825,731 shares during the quarter. CIBC Asset Management Inc’s holdings in NexGen Energy were worth $81,312,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NXE. SBI Securities Co. Ltd. raised its holdings in NexGen Energy by 454.3% in the 4th 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 bought a new position in NexGen Energy in the 2nd quarter valued at approximately $76,000. First Trust Advisors LP bought a new position in NexGen Energy in the 3rd quarter valued at approximately $94,000. TABR Capital Management LLC bought a new position in NexGen Energy in the 4th quarter valued at approximately $101,000. Finally, Knuff & Co LLC bought a new position in NexGen Energy in the 4th quarter valued at approximately $104,000. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Stock Up 8.9%

Shares of NYSE:NXE opened at $12.41 on Wednesday. The firm has a market cap of $8.21 billion, a P/E ratio of -25.33 and a beta of 1.35. NexGen Energy has a 12-month low of $6.18 and a 12-month high of $13.96. The business has a fifty day simple moving average of $11.72 and a 200 day simple moving average of $11.08.

NexGen Energy (NYSE:NXE) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, equities research analysts expect that NexGen Energy will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NXE. UBS Group began coverage on shares of NexGen Energy in a report on Thursday, March 5th. They issued a “buy” rating for the company. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

About NexGen Energy

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.