Van ECK Associates Corp Grows Stake in NexGen Energy Ltd. (NYSE:NXE)

Van ECK Associates Corp raised its stake in NexGen Energy Ltd. (NYSE:NXE - Free Report) by 50.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,718,270 shares of the company's stock after buying an additional 1,582,705 shares during the quarter. Van ECK Associates Corp owned about 0.84% of NexGen Energy worth $30,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda bought a new position in shares of NexGen Energy in the 3rd quarter valued at about $6,585,000. Swiss National Bank increased its position in shares of NexGen Energy by 12.9% in the first quarter. Swiss National Bank now owns 989,000 shares of the company's stock worth $7,686,000 after purchasing an additional 112,700 shares during the period. Millennium Management LLC lifted its holdings in shares of NexGen Energy by 109.6% during the 2nd quarter. Millennium Management LLC now owns 1,641,407 shares of the company's stock worth $11,441,000 after acquiring an additional 858,471 shares during the period. Rye Brook Capital LLC boosted its holdings in shares of NexGen Energy by 18.7% in the 3rd quarter. Rye Brook Capital LLC now owns 695,000 shares of the company's stock valued at $4,538,000 after purchasing an additional 109,500 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in NexGen Energy by 316.0% in the first quarter. Russell Investments Group Ltd. now owns 146,503 shares of the company's stock valued at $1,140,000 after buying an additional 111,283 shares in the last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NXE has been the subject of a number of recent research reports. National Bank Financial raised NexGen Energy to a "strong-buy" rating in a report on Tuesday, September 3rd. Ventum Cap Mkts raised NexGen Energy to a "strong-buy" rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and an average price target of $11.00.

NexGen Energy Stock Performance

NXE traded down $0.05 during mid-day trading on Tuesday, reaching $7.11. 4,424,666 shares of the stock were exchanged, compared to its average volume of 5,644,538. NexGen Energy Ltd. has a 1 year low of $4.95 and a 1 year high of $8.88. The stock has a market capitalization of $4.02 billion, a PE ratio of 711.71 and a beta of 1.90. The company has a 50 day moving average price of $6.67 and a two-hundred day moving average price of $6.88.

NexGen Energy (NYSE:NXE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.02. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Sell-side analysts expect that NexGen Energy Ltd. will post -0.09 EPS for the current fiscal year.

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.