Man Group plc Makes New Investment in NexGen Energy $NXE

Man Group plc acquired a new position in shares of NexGen Energy (NYSE:NXE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 275,069 shares of the company’s stock, valued at approximately $2,583,000.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of NexGen Energy during the 4th quarter worth $72,303,000. The Manufacturers Life Insurance Company acquired a new stake in NexGen Energy in the second quarter valued at about $68,283,000. CIBC Asset Management Inc grew its position in NexGen Energy by 341.9% in the fourth quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company’s stock valued at $81,312,000 after acquiring an additional 6,825,731 shares during the last quarter. Van ECK Associates Corp raised its stake in NexGen Energy by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock worth $268,240,000 after acquiring an additional 5,523,932 shares in the last quarter. Finally, Millennium Management LLC raised its stake in NexGen Energy by 97.8% during the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after acquiring an additional 5,011,890 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Stock Up 0.6%

Shares of NXE opened at $10.46 on Tuesday. NexGen Energy has a 12-month low of $7.33 and a 12-month high of $13.96. The business has a 50-day simple moving average of $9.84 and a two-hundred day simple moving average of $11.04. The stock has a market cap of $7.00 billion, a PE ratio of -26.15 and a beta of 1.40.

Analysts Set New Price Targets

A number of research firms have recently commented on NXE. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

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.