Point72 Asset Management L.P. Decreases Stock Holdings in NexGen Energy Ltd. (NYSE:NXE)

Point72 Asset Management L.P. lowered its position in shares of NexGen Energy Ltd. (NYSE:NXE) by 60.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,965,894 shares of the company’s stock after selling 3,047,506 shares during the period. Point72 Asset Management L.P. owned about 0.35% of NexGen Energy worth $13,687,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Scotia Capital Inc. boosted its holdings in shares of NexGen Energy by 30.0% during the fourth quarter. Scotia Capital Inc. now owns 38,086 shares of the company’s stock worth $266,000 after purchasing an additional 8,792 shares during the period. Bank of Nova Scotia lifted its holdings in NexGen Energy by 3.7% in the 4th quarter. Bank of Nova Scotia now owns 846,095 shares of the company’s stock worth $5,919,000 after buying an additional 30,179 shares during the period. Rathbones Group PLC lifted its holdings in NexGen Energy by 15.3% in the 4th quarter. Rathbones Group PLC now owns 32,531 shares of the company’s stock worth $229,000 after buying an additional 4,310 shares during the period. CIBC Asset Management Inc grew its position in shares of NexGen Energy by 9.4% in the 4th quarter. CIBC Asset Management Inc now owns 429,893 shares of the company’s stock worth $3,017,000 after buying an additional 37,005 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of NexGen Energy during the fourth quarter valued at approximately $723,000. Institutional investors own 42.43% of the company’s stock.

Analysts Set New Price Targets

NXE has been the topic of several recent analyst reports. National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Ventum Cap Mkts upgraded NexGen Energy to a “strong-buy” rating in a report on Monday, July 8th. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of $11.00.

NexGen Energy Stock Down 1.6 %

Shares of NXE opened at $6.53 on Tuesday. 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 $3.66 billion, a P/E ratio of -652.50 and a beta of 1.91. The business’s 50 day moving average price is $5.98 and its 200-day moving average price is $6.98.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. During the same quarter in the prior year, the company posted ($0.03) earnings per share. On average, equities analysts anticipate that NexGen Energy Ltd. will post -0.09 EPS for the current 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 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.