Zurcher Kantonalbank Zurich Cantonalbank Purchases 56,930 Shares of NexGen Energy Ltd. (NYSE:NXE)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in NexGen Energy Ltd. (NYSE:NXE - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,957 shares of the company's stock after acquiring an additional 56,930 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in NexGen Energy were worth $1,140,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Segra Capital Management LLC raised its stake in NexGen Energy by 19.8% during the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company's stock valued at $76,217,000 after buying an additional 1,931,200 shares during the last quarter. Van ECK Associates Corp raised its stake in NexGen Energy by 79.7% during the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock valued at $55,971,000 after buying an additional 3,762,756 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in NexGen Energy by 792.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company's stock valued at $46,434,000 after buying an additional 6,317,538 shares during the last quarter. Mountaineer Partners Management LLC raised its stake in NexGen Energy by 536.6% during the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company's stock valued at $24,071,000 after buying an additional 3,107,214 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC raised its stake in NexGen Energy by 18.0% during the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,022,615 shares of the company's stock valued at $19,738,000 after buying an additional 461,185 shares during the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

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NexGen Energy Price Performance

Shares of NYSE:NXE traded down $0.13 during midday trading on Friday, hitting $4.92. The company had a trading volume of 17,916,124 shares, compared to its average volume of 6,451,874. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 32.77 and a beta of 1.97. NexGen Energy Ltd. has a 12-month low of $4.44 and a 12-month high of $8.96. The company has a fifty day moving average of $5.91 and a two-hundred day moving average of $6.74.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NXE shares. Stifel Canada upgraded shares of NexGen Energy to a "strong-buy" rating in a research note on Tuesday, March 11th. Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a research note on Thursday, March 6th. Finally, Stifel Nicolaus assumed coverage on NexGen Energy in a research note on Wednesday, March 12th. They issued a "buy" rating for the company. Two research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, NexGen Energy presently has an average 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.