Cinctive Capital Management LP Sells 627,587 Shares of NexGen Energy $NXE

Cinctive Capital Management LP reduced its stake in NexGen Energy (NYSE:NXE) by 75.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,088 shares of the company’s stock after selling 627,587 shares during the period. Cinctive Capital Management LP’s holdings in NexGen Energy were worth $1,827,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. L1 Capital Pty Ltd lifted its holdings in NexGen Energy by 10.3% during the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock worth $234,683,000 after purchasing an additional 3,171,558 shares in the last quarter. Van ECK Associates Corp grew its holdings in NexGen Energy by 28.9% during the 3rd quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock valued at $211,517,000 after buying an additional 5,305,263 shares in the last quarter. Vanguard Group Inc. increased its position in shares of NexGen Energy by 2.1% during the third quarter. Vanguard Group Inc. now owns 21,353,712 shares of the company’s stock valued at $191,180,000 after buying an additional 430,005 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of NexGen Energy by 18.0% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,219,454 shares of the company’s stock worth $63,918,000 after buying an additional 1,407,000 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of NexGen Energy by 40.0% in the third quarter. Marshall Wace LLP now owns 8,685,633 shares of the company’s stock worth $77,736,000 after buying an additional 2,481,013 shares in the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NXE has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd. UBS Group assumed coverage on shares of NexGen Energy in a research note on Thursday, March 5th. They issued a “buy” rating on the stock. Finally, Raymond James Financial reissued an “outperform” rating on shares of NexGen Energy in a report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

NexGen Energy Stock Down 3.0%

Shares of NYSE NXE opened at $11.74 on Tuesday. The stock’s 50-day simple moving average is $12.10 and its two-hundred day simple moving average is $9.92. NexGen Energy has a twelve month low of $3.91 and a twelve month high of $13.96. The firm has a market capitalization of $7.75 billion, a P/E ratio of -30.88 and a beta of 1.41.

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

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.