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

CIBC Asset Management Inc lifted its stake in NexGen Energy (NYSE:NXE) by 341.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,821,855 shares of the company’s stock after buying an additional 6,825,731 shares during the period. CIBC Asset Management Inc owned approximately 1.34% of NexGen Energy worth $81,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its position in NexGen Energy by 454.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after purchasing an additional 6,528 shares during the period. Flow Traders U.S. LLC bought a new stake in NexGen Energy during the second quarter worth about $76,000. First Trust Advisors LP bought a new stake in NexGen Energy during the third quarter worth about $94,000. TABR Capital Management LLC bought a new stake in NexGen Energy during the fourth quarter worth about $101,000. Finally, Knuff & Co LLC bought a new stake in NexGen Energy during the fourth quarter worth about $104,000. 42.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NXE shares. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. UBS Group began coverage on shares of NexGen Energy in a research report on Thursday, March 5th. They set a “buy” rating for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

NexGen Energy Trading Up 8.9%

NXE stock opened at $12.41 on Wednesday. The stock has a market capitalization 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 firm has a 50-day moving average price of $11.72 and a 200-day moving average price of $11.08.

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

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.