Appian Way Asset Management LP Makes New Investment in NexGen Energy Ltd. (NYSE:NXE)

Appian Way Asset Management LP purchased a new position in shares of NexGen Energy Ltd. (NYSE:NXE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 322,943 shares of the company’s stock, valued at approximately $2,254,000. NexGen Energy makes up 0.6% of Appian Way Asset Management LP’s holdings, making the stock its 29th largest holding. Appian Way Asset Management LP owned approximately 0.06% of NexGen Energy as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NXE. BNP Paribas Financial Markets lifted its position in shares of NexGen Energy by 8,635,700.0% during the 4th quarter. BNP Paribas Financial Markets now owns 86,358 shares of the company’s stock valued at $605,000 after acquiring an additional 86,357 shares during the period. Chesapeake Capital Corp IL bought a new stake in NexGen Energy in the fourth quarter valued at $332,000. TD Asset Management Inc raised its holdings in shares of NexGen Energy by 37.2% during the fourth quarter. TD Asset Management Inc now owns 3,014,160 shares of the company’s stock valued at $21,190,000 after purchasing an additional 817,897 shares during the period. Scotia Capital Inc. boosted its position in shares of NexGen Energy by 30.0% during the 4th quarter. Scotia Capital Inc. now owns 38,086 shares of the company’s stock worth $266,000 after purchasing an additional 8,792 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of NexGen Energy by 3.7% in the 4th quarter. Bank of Nova Scotia now owns 846,095 shares of the company’s stock valued at $5,919,000 after buying an additional 30,179 shares during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Stock Performance

Shares of NYSE NXE opened at $6.51 on Tuesday. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -650.50 and a beta of 1.91. NexGen Energy Ltd. has a fifty-two week low of $4.95 and a fifty-two week high of $8.88. The firm’s 50-day simple moving average is $5.99 and its 200 day simple moving average is $7.01.

NexGen Energy (NYSE:NXE) last posted its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, sell-side analysts predict that NexGen Energy Ltd. will post -0.09 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NXE. National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Ventum Cap Mkts upgraded NexGen Energy to a “strong-buy” rating in a report on Monday, July 8th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, NexGen Energy presently has an average rating of “Strong Buy” and an average target price of $11.00.

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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.