Old West Investment Management LLC Lowers Stock Holdings in NexGen Energy Ltd. (NYSE:NXE)

Old West Investment Management LLC cut its holdings in shares of NexGen Energy Ltd. (NYSE:NXE) by 12.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,004,980 shares of the company’s stock after selling 138,048 shares during the quarter. NexGen Energy comprises about 2.7% of Old West Investment Management LLC’s holdings, making the stock its 17th largest position. Old West Investment Management LLC’s holdings in NexGen Energy were worth $6,633,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NXE. Janney Montgomery Scott LLC grew its holdings in shares of NexGen Energy by 10.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock valued at $101,000 after purchasing an additional 1,500 shares in the last quarter. Investment Management Corp of Ontario grew its stake in shares of NexGen Energy by 14.6% in the third quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company’s stock worth $164,000 after acquiring an additional 3,200 shares in the last quarter. Tcfg Wealth Management LLC increased its position in shares of NexGen Energy by 6.3% during the fourth quarter. Tcfg Wealth Management LLC now owns 62,500 shares of the company’s stock worth $412,000 after acquiring an additional 3,700 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of NexGen Energy by 284.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock valued at $33,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Rye Brook Capital LLC boosted its holdings in NexGen Energy by 0.9% in the fourth quarter. Rye Brook Capital LLC now owns 701,000 shares of the company’s stock valued at $4,627,000 after purchasing an additional 6,000 shares during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NXE shares. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Finally, Stifel Nicolaus assumed coverage on shares of NexGen Energy in a research report on Wednesday, March 12th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

NexGen Energy Stock Performance

Shares of NYSE NXE opened at $4.18 on Friday. The stock’s 50-day simple moving average is $5.45 and its 200-day simple moving average is $6.67. The firm has a market capitalization of $2.38 billion, a PE ratio of 27.87 and a beta of 2.02. NexGen Energy Ltd. has a fifty-two week low of $4.04 and a fifty-two week high of $8.96.

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.