Old West Investment Management LLC Sells 138,048 Shares of NexGen Energy Ltd. (NYSE:NXE)

Old West Investment Management LLC reduced its position in shares of NexGen Energy Ltd. (NYSE:NXE - Free Report) by 12.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,004,980 shares of the company's stock after selling 138,048 shares during the quarter. NexGen Energy makes up about 2.7% of Old West Investment Management LLC's holdings, making the stock its 17th biggest holding. Old West Investment Management LLC owned about 0.18% of NexGen Energy worth $6,633,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NXE. PNC Financial Services Group Inc. raised its holdings in NexGen Energy by 284.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company's stock worth $33,000 after purchasing an additional 3,700 shares in the last quarter. Silver Lake Advisory LLC purchased a new stake in NexGen Energy in the fourth quarter worth about $73,000. Matauro LLC bought a new stake in NexGen Energy during the 4th quarter valued at approximately $84,000. Sanctuary Advisors LLC purchased a new position in shares of NexGen Energy during the 3rd quarter worth approximately $98,000. Finally, Janney Montgomery Scott LLC raised its position in shares of NexGen Energy by 10.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company's stock worth $101,000 after acquiring an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NXE shares. Stifel Nicolaus started coverage on NexGen Energy in a research note on Wednesday, March 12th. They issued a "buy" rating on the stock. Raymond James reaffirmed an "outperform" rating on shares of NexGen Energy in a research report on Friday, April 4th. Stifel Canada raised shares of NexGen Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Scotiabank restated an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th. Three analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, NexGen Energy currently has a consensus rating of "Strong Buy".

NexGen Energy Stock Performance

Shares of NXE traded down $0.18 during trading hours on Thursday, hitting $4.44. The company had a trading volume of 13,015,139 shares, compared to its average volume of 6,778,860. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 29.44 and a beta of 2.02. The firm has a fifty day moving average price of $5.23 and a 200-day moving average price of $6.61. 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.