Point72 Asset Management L.P. Sells 3,047,506 Shares of NexGen Energy Ltd. (NYSE:NXE)

Point72 Asset Management L.P. reduced its position in NexGen Energy Ltd. (NYSE:NXE) by 60.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,965,894 shares of the company’s stock after selling 3,047,506 shares during the period. Point72 Asset Management L.P.’s holdings in NexGen Energy were worth $13,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in NexGen Energy by 411.2% in the second quarter. Mackenzie Financial Corp now owns 1,530,574 shares of the company’s stock worth $10,675,000 after purchasing an additional 1,231,144 shares during the last quarter. Millennium Management LLC lifted its stake in shares of NexGen Energy by 109.6% in the 2nd quarter. Millennium Management LLC now owns 1,641,407 shares of the company’s stock worth $11,441,000 after purchasing an additional 858,471 shares during the period. Caxton Associates LP purchased a new position in shares of NexGen Energy in the second quarter worth approximately $367,000. Toronto Dominion Bank grew its position in NexGen Energy by 24.6% during the second quarter. Toronto Dominion Bank now owns 21,980 shares of the company’s stock valued at $153,000 after buying an additional 4,338 shares during the period. Finally, Raffles Associates LP increased its holdings in NexGen Energy by 17.2% during the second quarter. Raffles Associates LP now owns 170,000 shares of the company’s stock valued at $1,187,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Trading Down 1.6 %

NYSE NXE opened at $6.53 on Tuesday. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -652.50 and a beta of 1.91. NexGen Energy Ltd. has a 12 month low of $4.95 and a 12 month high of $8.88. The company’s 50 day moving average is $5.98 and its two-hundred day moving average is $6.98.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Ventum Cap Mkts upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Monday, July 8th. National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a buy rating and three 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” and a consensus target price of $11.00.

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 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.