NexGen Energy Ltd. (NYSE:NXE) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of NexGen Energy Ltd. (NYSE:NXE - Free Report) by 73.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,087,200 shares of the company's stock after selling 3,083,871 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of NexGen Energy worth $7,089,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NXE. L1 Capital Pty Ltd raised its stake in shares of NexGen Energy by 6.3% during the 1st quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company's stock valued at $187,127,000 after buying an additional 1,423,317 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of NexGen Energy by 5,020.5% in the 1st quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company's stock valued at $126,047,000 after purchasing an additional 15,905,444 shares during the period. Van ECK Associates Corp grew its position in NexGen Energy by 50.5% during the third quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company's stock valued at $30,810,000 after buying an additional 1,582,705 shares during the period. TD Asset Management Inc boosted its position in NexGen Energy by 1.5% during the second quarter. TD Asset Management Inc now owns 3,131,701 shares of the company's stock worth $21,834,000 after purchasing an additional 47,394 shares in the last quarter. Finally, Bank of Montreal Can raised its position in NexGen Energy by 20.8% during the second quarter. Bank of Montreal Can now owns 1,807,849 shares of the company's stock worth $12,946,000 after acquiring an additional 311,091 shares during the period. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Stock Performance

NXE opened at $8.88 on Friday. The business's 50-day simple moving average is $7.22 and its 200-day simple moving average is $6.88. NexGen Energy Ltd. has a one year low of $4.95 and a one year high of $8.96. The company has a market cap of $5.02 billion, a P/E ratio of 59.20 and a beta of 1.90.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01). During the same quarter last year, the business earned ($0.04) EPS. As a group, analysts predict that NexGen Energy Ltd. will post -0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial upgraded shares of NexGen Energy to a "strong-buy" rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy" and an average target price of $11.00.

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.