Bank of New York Mellon Corp Acquires 1,698,649 Shares of NexGen Energy Ltd. (NYSE:NXE)

Bank of New York Mellon Corp boosted its holdings in shares of NexGen Energy Ltd. (NYSE:NXE - Free Report) by 954.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,876,558 shares of the company's stock after purchasing an additional 1,698,649 shares during the period. Bank of New York Mellon Corp owned 0.33% of NexGen Energy worth $12,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in shares of NexGen Energy by 792.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company's stock valued at $46,434,000 after buying an additional 6,317,538 shares during the period. Van ECK Associates Corp increased its stake in shares of NexGen Energy by 79.7% in the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock valued at $55,971,000 after buying an additional 3,762,756 shares during the period. Mountaineer Partners Management LLC increased its stake in shares of NexGen Energy by 536.6% in the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company's stock valued at $24,071,000 after buying an additional 3,107,214 shares during the period. Segra Capital Management LLC increased its stake in shares of NexGen Energy by 19.8% in the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company's stock valued at $76,217,000 after buying an additional 1,931,200 shares during the period. Finally, Appian Way Asset Management LP increased its stake in shares of NexGen Energy by 403.7% in the 3rd quarter. Appian Way Asset Management LP now owns 1,626,807 shares of the company's stock valued at $10,623,000 after buying an additional 1,303,864 shares during the period. 42.43% of the stock is owned by institutional investors and hedge funds.

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NexGen Energy Stock Down 0.1 %

Shares of NexGen Energy stock traded down $0.01 during trading on Friday, reaching $4.69. 7,867,905 shares of the company were exchanged, compared to its average volume of 6,308,464. NexGen Energy Ltd. has a twelve month low of $4.44 and a twelve month high of $8.96. The business has a 50-day moving average price of $6.13 and a 200-day moving average price of $6.77. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 31.24 and a beta of 1.97.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NXE shares. Stifel Nicolaus started coverage on NexGen Energy in a research note on Wednesday. They issued 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 reissued an "outperform" rating on shares of NexGen Energy in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

NexGen Energy Company 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.