PCJ Investment Counsel Ltd. Lowers Stock Holdings in NexGen Energy $NXE

PCJ Investment Counsel Ltd. reduced its holdings in shares of NexGen Energy (NYSE:NXE) by 30.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520,200 shares of the company’s stock after selling 226,200 shares during the period. NexGen Energy comprises 1.3% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 26th largest holding. PCJ Investment Counsel Ltd.’s holdings in NexGen Energy were worth $4,656,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cooper Creek Partners Management LLC acquired a new stake in shares of NexGen Energy during the second quarter valued at $41,491,000. Hancock Prospecting Pty Ltd acquired a new position in shares of NexGen Energy during the 2nd quarter valued at about $39,975,000. Van ECK Associates Corp lifted its holdings in shares of NexGen Energy by 28.9% during the 3rd quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock worth $211,517,000 after acquiring an additional 5,305,263 shares during the period. L1 Capital Pty Ltd grew its holdings in NexGen Energy by 10.3% in the second quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock valued at $234,683,000 after purchasing an additional 3,171,558 shares during the period. Finally, Packer & Co Ltd acquired a new position in shares of NexGen Energy in the 3rd quarter valued at $27,072,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NXE has been the subject of several research analyst reports. UBS Group began coverage on NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NexGen Energy has an average rating of “Moderate Buy”.

NexGen Energy Stock Performance

NYSE NXE opened at $13.00 on Wednesday. The company has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $9.78. NexGen Energy has a one year low of $3.91 and a one year high of $13.96. The firm has a market capitalization of $8.59 billion, a PE ratio of -34.21 and a beta of 1.41.

NexGen Energy (NYSE:NXE) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Equities analysts forecast that NexGen Energy will post -0.05 earnings per share for the current year.

NexGen Energy Profile

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.