L1 Capital Pty Ltd Acquires 2,804,090 Shares of NexGen Energy $NXE

L1 Capital Pty Ltd lifted its holdings in NexGen Energy (NYSE:NXE) by 9.1% during the fourth quarter, Holdings Channel reports. The fund owned 33,642,681 shares of the company’s stock after buying an additional 2,804,090 shares during the quarter. NexGen Energy makes up 16.1% of L1 Capital Pty Ltd’s holdings, making the stock its 2nd largest holding. L1 Capital Pty Ltd owned approximately 0.05% of NexGen Energy worth $309,145,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its holdings 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 buying an additional 6,528 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in NexGen Energy during the second quarter worth $76,000. First Trust Advisors LP purchased a new stake in NexGen Energy during the third quarter worth $94,000. TABR Capital Management LLC purchased a new stake in NexGen Energy during the fourth quarter worth $101,000. Finally, Knuff & Co LLC purchased a new stake in NexGen Energy during the fourth quarter worth $104,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Stock Up 0.9%

NXE opened at $9.84 on Friday. The firm’s fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $11.21. The company has a market cap of $6.51 billion, a price-to-earnings ratio of -20.07 and a beta of 1.35. NexGen Energy has a 52-week low of $6.26 and a 52-week high of $13.96.

Wall Street Analysts Forecast Growth

NXE has been the topic of a number of recent analyst reports. UBS Group initiated coverage on shares of NexGen Energy in a report on Thursday, March 5th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a report on Tuesday, June 2nd. Finally, Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently 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.