PCJ Investment Counsel Ltd. Raises Position in NexGen Energy $NXE

PCJ Investment Counsel Ltd. raised its position in shares of NexGen Energy (NYSE:NXE) by 131.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 746,400 shares of the company’s stock after acquiring an additional 424,260 shares during the quarter. NexGen Energy makes up approximately 1.8% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 18th largest position. PCJ Investment Counsel Ltd.’s holdings in NexGen Energy were worth $5,186,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NXE. L1 Capital Pty Ltd lifted its stake in shares of NexGen Energy by 11.8% in the 1st quarter. L1 Capital Pty Ltd now owns 30,644,505 shares of the company’s stock valued at $137,372,000 after purchasing an additional 3,226,055 shares during the period. Encompass Capital Advisors LLC raised its holdings in NexGen Energy by 249.5% in the first quarter. Encompass Capital Advisors LLC now owns 4,153,080 shares of the company’s stock worth $18,635,000 after purchasing an additional 2,964,900 shares in the last quarter. Anson Funds Management LP bought a new position in NexGen Energy in the first quarter worth $7,846,000. Kapitalo Investimentos Ltda purchased a new position in NexGen Energy during the first quarter valued at $4,665,000. Finally, MMCAP International Inc. SPC boosted its holdings in shares of NexGen Energy by 91.1% during the 2nd quarter. MMCAP International Inc. SPC now owns 2,006,125 shares of the company’s stock valued at $13,923,000 after buying an additional 956,118 shares in the last quarter. Institutional investors own 42.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NXE. Zacks Research raised shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Friday, October 10th. Finally, TD Securities reiterated a “buy” rating on shares of NexGen Energy in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NexGen Energy has an average rating of “Moderate Buy”.

NexGen Energy Trading Up 4.0%

NexGen Energy stock opened at $8.46 on Friday. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $9.95. The stock has a fifty day simple moving average of $8.63 and a two-hundred day simple moving average of $7.19. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of -33.82 and a beta of 1.44.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). On average, equities research analysts forecast that NexGen Energy will post -0.05 EPS for the current fiscal year.

NexGen Energy Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.