The Manufacturers Life Insurance Company lowered its stake in shares of NexGen Energy Ltd. (NYSEAMERICAN:NXE) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 529,570 shares of the company’s stock after selling 12,416 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of NexGen Energy worth $2,701,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NXE. Pinz Capital Management LP bought a new position in NexGen Energy during the first quarter worth $36,000. Minot Wealth Management LLC bought a new stake in NexGen Energy in the 2nd quarter valued at $40,000. Bank of New York Mellon Corp bought a new stake in NexGen Energy in the 1st quarter valued at $45,000. Advisor Group Holdings Inc. increased its holdings in NexGen Energy by 79.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 14,508 shares of the company’s stock valued at $59,000 after buying an additional 6,404 shares during the period. Finally, Gotham Asset Management LLC increased its holdings in NexGen Energy by 36.6% in the 1st quarter. Gotham Asset Management LLC now owns 18,539 shares of the company’s stock valued at $67,000 after buying an additional 4,968 shares during the period. 18.24% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on NXE. Zacks Investment Research lowered shares of NexGen Energy from a “hold” rating to a “sell” rating in a report on Friday, September 10th. Royal Bank of Canada lowered shares of NexGen Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price target on the stock. in a report on Wednesday, June 23rd. TD Securities boosted their price target on shares of NexGen Energy from C$7.00 to C$10.00 and gave the company a “buy” rating in a report on Wednesday, September 15th. Raymond James boosted their price target on shares of NexGen Energy from C$7.50 to C$8.50 and gave the company an “outperform” rating in a report on Friday, September 17th. Finally, Canaccord Genuity upped their target price on shares of NexGen Energy from C$7.00 to C$10.00 and gave the stock a “buy” rating in a report on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.46.
NexGen Energy (NYSEAMERICAN:NXE) last posted its earnings results on Wednesday, August 11th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). Analysts expect that NexGen Energy Ltd. will post -0.17 earnings per share for the current year.
About NexGen Energy
NexGen Energy Ltd. engages in the acquisition, exploration, and development of uranium properties. Its uranium project portfolio includes Arrow, South Arrow, Harpoon, Rook I, IsoEnergy, and SW1 property. The company was founded by Leigh B. Curyer on March 8, 2011 and is headquartered in Vancouver, Canada.
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