Pinebridge Investments LLC Purchases New Stake in NexGen Energy $NXE

Pinebridge Investments LLC purchased a new stake in NexGen Energy (NYSE:NXE) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 319,386 shares of the company’s stock, valued at approximately $2,938,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of NexGen Energy by 2.1% in the third quarter. Vanguard Group Inc. now owns 21,353,712 shares of the company’s stock valued at $191,180,000 after buying an additional 430,005 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NexGen Energy by 4.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock valued at $274,103,000 after buying an additional 1,189,516 shares in the last quarter. Ion Asset Management Ltd. grew its stake in shares of NexGen Energy by 3,404.6% in the third quarter. Ion Asset Management Ltd. now owns 2,348,100 shares of the company’s stock valued at $21,015,000 after buying an additional 2,281,100 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of NexGen Energy by 28.9% in the third quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock valued at $211,517,000 after buying an additional 5,305,263 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of NexGen Energy by 53.0% in the third quarter. Citigroup Inc. now owns 676,352 shares of the company’s stock valued at $6,057,000 after buying an additional 234,224 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group assumed coverage on NexGen Energy in a research note on Thursday, March 5th. They issued a “buy” rating for the company. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

NexGen Energy Price Performance

NXE opened at $10.29 on Monday. NexGen Energy has a 12 month low of $6.20 and a 12 month high of $13.96. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of -20.99 and a beta of 1.35. The business has a fifty day moving average price of $11.72 and a 200 day moving average price of $11.17.

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.