Ninepoint Partners LP Purchases New Holdings in NexGen Energy Ltd. (NYSE:NXE)

Ninepoint Partners LP bought a new position in shares of NexGen Energy Ltd. (NYSE:NXE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 355,000 shares of the company's stock, valued at approximately $2,343,000. NexGen Energy makes up approximately 0.3% of Ninepoint Partners LP's portfolio, making the stock its 28th largest position. Ninepoint Partners LP owned about 0.06% of NexGen Energy as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Azarias Capital Management L.P. increased its position in NexGen Energy by 15.3% during the fourth quarter. Azarias Capital Management L.P. now owns 2,038,627 shares of the company's stock worth $13,455,000 after buying an additional 271,153 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of NexGen Energy by 13.4% in the third quarter. CIBC Asset Management Inc now owns 926,314 shares of the company's stock valued at $6,043,000 after purchasing an additional 109,754 shares during the last quarter. Mountaineer Partners Management LLC grew its position in shares of NexGen Energy by 536.6% in the third quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company's stock valued at $24,071,000 after purchasing an additional 3,107,214 shares during the last quarter. Toronto Dominion Bank grew its position in shares of NexGen Energy by 719.6% in the third quarter. Toronto Dominion Bank now owns 180,140 shares of the company's stock valued at $1,176,000 after purchasing an additional 158,160 shares during the last quarter. Finally, Barclays PLC grew its position in shares of NexGen Energy by 328.3% in the third quarter. Barclays PLC now owns 187,861 shares of the company's stock valued at $1,227,000 after purchasing an additional 143,996 shares during the last quarter. Institutional investors own 42.43% of the company's stock.

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NexGen Energy Stock Performance

Shares of NXE stock traded up $0.09 during trading on Thursday, hitting $5.04. The company had a trading volume of 11,175,324 shares, compared to its average volume of 6,376,676. The firm has a market capitalization of $2.87 billion, a P/E ratio of 33.57 and a beta of 1.97. The stock's 50-day moving average price is $5.99 and its 200 day moving average price is $6.75. NexGen Energy Ltd. has a one year low of $4.44 and a one year high of $8.96.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Nicolaus assumed coverage on NexGen Energy in a research report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Stifel Canada raised NexGen Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, NexGen Energy currently has a consensus rating of "Strong Buy".

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.