Old West Investment Management LLC Increases Position in NexGen Energy Ltd. (NYSE:NXE)

Old West Investment Management LLC increased its stake in shares of NexGen Energy Ltd. (NYSE:NXE) by 61.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,143,028 shares of the company’s stock after buying an additional 434,670 shares during the period. NexGen Energy comprises 2.7% of Old West Investment Management LLC’s portfolio, making the stock its 16th largest holding. Old West Investment Management LLC owned 0.20% of NexGen Energy worth $7,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC purchased a new position in NexGen Energy in the 2nd quarter valued at about $33,000. DekaBank Deutsche Girozentrale acquired a new position in NexGen Energy in the third quarter valued at approximately $76,000. New Harbor Financial Group LLC boosted its stake in NexGen Energy by 20.0% in the third quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock valued at $98,000 after acquiring an additional 2,500 shares during the period. Element Capital Management LLC bought a new position in shares of NexGen Energy during the second quarter valued at approximately $110,000. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of NexGen Energy during the 2nd quarter worth approximately $125,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NexGen Energy presently has a consensus rating of “Strong Buy” and an average price target of $11.00.

NexGen Energy Trading Down 0.7 %

NYSE NXE opened at $7.11 on Wednesday. The company has a 50-day moving average price of $6.67 and a two-hundred day moving average price of $6.88. NexGen Energy Ltd. has a 52 week low of $4.95 and a 52 week high of $8.88. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 711.71 and a beta of 1.90.

NexGen Energy (NYSE:NXE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share 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) EPS. As a group, equities research analysts expect that NexGen Energy Ltd. will post -0.09 earnings per share for the current fiscal year.

About NexGen Energy

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.