Old West Investment Management LLC Buys 434,670 Shares of NexGen Energy Ltd. (NYSE:NXE)

Old West Investment Management LLC increased its stake in shares of NexGen Energy Ltd. (NYSE:NXE - Free Report) by 61.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,143,028 shares of the company's stock after buying an additional 434,670 shares during the quarter. NexGen Energy accounts for 2.7% of Old West Investment Management LLC's investment portfolio, making the stock its 16th largest holding. Old West Investment Management LLC owned 0.20% of NexGen Energy worth $7,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Van ECK Associates Corp lifted its position in shares of NexGen Energy by 50.5% during the 3rd quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company's stock worth $30,810,000 after buying an additional 1,582,705 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in NexGen Energy during the third quarter valued at about $76,000. Legacy Capital Group California Inc. boosted its position in NexGen Energy by 132.6% during the third quarter. Legacy Capital Group California Inc. now owns 41,773 shares of the company's stock worth $273,000 after purchasing an additional 23,812 shares during the period. Rye Brook Capital LLC increased its stake in shares of NexGen Energy by 18.7% in the third quarter. Rye Brook Capital LLC now owns 695,000 shares of the company's stock worth $4,538,000 after purchasing an additional 109,500 shares in the last quarter. Finally, Stanley Laman Group Ltd. raised its position in shares of NexGen Energy by 2.1% in the third quarter. Stanley Laman Group Ltd. now owns 490,040 shares of the company's stock valued at $3,200,000 after purchasing an additional 9,991 shares during the period. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Price Performance

Shares of NXE traded down $0.03 during midday trading on Wednesday, hitting $7.08. 8,737,066 shares of the company traded hands, compared to its average volume of 5,658,927. The stock has a 50-day moving average of $6.67 and a 200-day moving average of $6.88. NexGen Energy Ltd. has a one year low of $4.95 and a one year high of $8.88. The firm has a market cap of $4.00 billion, a P/E ratio of 708.71 and a beta of 1.90.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate 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 forecast that NexGen Energy Ltd. will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upgraded shares of NexGen Energy to a "strong-buy" rating in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, NexGen Energy currently has an average rating of "Strong Buy" and a consensus price target 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.