Alliancebernstein L.P. Cuts Stock Position in NexGen Energy Ltd. (NYSE:NXE)

Alliancebernstein L.P. decreased its stake in NexGen Energy Ltd. (NYSE:NXE - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,206,536 shares of the company's stock after selling 332,701 shares during the quarter. Alliancebernstein L.P. owned approximately 0.56% of NexGen Energy worth $21,163,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Old West Investment Management LLC increased its holdings in NexGen Energy by 61.4% in the 3rd quarter. Old West Investment Management LLC now owns 1,143,028 shares of the company's stock worth $7,464,000 after acquiring an additional 434,670 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of NexGen Energy by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,450 shares of the company's stock worth $6,519,000 after purchasing an additional 19,718 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NexGen Energy by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 451,358 shares of the company's stock worth $2,947,000 after purchasing an additional 10,545 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of NexGen Energy during the 3rd quarter valued at $4,915,000. Finally, Investment Management Corp of Ontario lifted its stake in shares of NexGen Energy by 14.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company's stock valued at $164,000 after buying an additional 3,200 shares in the last quarter. Institutional investors own 42.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NXE shares. Raymond James reiterated an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Stifel Nicolaus assumed coverage on NexGen Energy in a research report on Wednesday, March 12th. They set a "buy" rating for the company. Stifel Canada raised NexGen Energy to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Scotiabank restated an "outperform" rating on shares of NexGen Energy in a research note on Thursday, March 6th. Three research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, NexGen Energy presently has a consensus rating of "Strong Buy".

NexGen Energy Stock Performance

Shares of NXE traded up $0.24 during midday trading on Friday, hitting $4.65. 10,893,984 shares of the company traded hands, compared to its average volume of 6,822,861. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 30.97 and a beta of 2.02. The firm has a 50 day moving average of $5.15 and a 200-day moving average of $6.58. NexGen Energy Ltd. has a 52 week low of $3.91 and a 52 week high of $8.96.

NexGen Energy 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 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.