Wellington Management Group LLP Buys Shares of 480,044 NexGen Energy $NXE

Wellington Management Group LLP purchased a new position in NexGen Energy (NYSE:NXE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 480,044 shares of the company’s stock, valued at approximately $4,507,000.

A number of other large investors have also made changes to their positions in NXE. Norges Bank acquired a new stake in shares of NexGen Energy in the 4th quarter worth $72,303,000. The Manufacturers Life Insurance Company purchased a new stake in NexGen Energy in the second quarter valued at about $68,283,000. CIBC Asset Management Inc raised its stake 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 buying an additional 6,825,731 shares during the last quarter. Van ECK Associates Corp boosted its holdings in NexGen Energy by 23.4% in 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 boosted its holdings in NexGen Energy by 97.8% in 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 owned by institutional investors and hedge funds.

NexGen Energy Stock Performance

Shares of NXE opened at $10.68 on Thursday. The stock has a 50-day moving average of $9.94 and a two-hundred day moving average of $10.97. NexGen Energy has a one year low of $7.33 and a one year high of $13.96. The stock has a market cap of $7.15 billion, a P/E ratio of -26.69 and a beta of 1.40.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research report on Friday, August 28th. Finally, Jefferies Financial Group assumed coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock 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.