Element Capital Management LLC Makes New Investment in NexGen Energy Ltd. (NYSE:NXE)

Element Capital Management LLC acquired a new position in shares of NexGen Energy Ltd. (NYSE:NXE) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,800 shares of the company’s stock, valued at approximately $110,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CapWealth Advisors LLC purchased a new stake in NexGen Energy during the second quarter valued at $147,000. TD Asset Management Inc raised its position in shares of NexGen Energy by 1.5% during the 2nd quarter. TD Asset Management Inc now owns 3,131,701 shares of the company’s stock valued at $21,834,000 after buying an additional 47,394 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of NexGen Energy in the 2nd quarter valued at about $33,000. CIBC Asset Management Inc grew its position in NexGen Energy by 60.5% in the second quarter. CIBC Asset Management Inc now owns 816,560 shares of the company’s stock worth $5,691,000 after acquiring an additional 307,675 shares in the last quarter. Finally, Privium Fund Management B.V. bought a new stake in NexGen Energy during the second quarter worth approximately $195,000. 42.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NXE shares. Ventum Cap Mkts upgraded NexGen Energy to a “strong-buy” rating in a report on Monday, July 8th. National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NexGen Energy presently has an average rating of “Strong Buy” and an average price target of $11.00.

NexGen Energy Price Performance

Shares of NYSE NXE opened at $5.73 on Friday. The company has a market cap of $3.22 billion, a P/E ratio of -573.00 and a beta of 1.91. The firm has a 50-day simple moving average of $6.13 and a two-hundred day simple moving average of $7.08. NexGen Energy Ltd. has a 1 year low of $4.95 and a 1 year high of $8.88.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. During the same period in the prior year, the company posted ($0.03) earnings per share. As a group, equities research analysts expect that NexGen Energy Ltd. will post -0.09 EPS for the current year.

NexGen Energy Company 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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.