3,024,793 Shares in NexGen Energy (NYSE:NXE) Acquired by Packer & Co Ltd

Packer & Co Ltd acquired a new position in NexGen Energy (NYSE:NXE) during the first quarter, Holdings Channel reports. The institutional investor acquired 3,024,793 shares of the company’s stock, valued at approximately $13,581,000. NexGen Energy makes up about 4.1% of Packer & Co Ltd’s portfolio, making the stock its 7th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in NexGen Energy by 6.7% in the fourth quarter. Invesco Ltd. now owns 26,399 shares of the company’s stock worth $174,000 after buying an additional 1,656 shares during the last quarter. Cetera Investment Advisers increased its holdings in NexGen Energy by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company’s stock worth $690,000 after buying an additional 2,648 shares during the last quarter. Hsbc Holdings PLC increased its holdings in NexGen Energy by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company’s stock worth $124,000 after buying an additional 3,473 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in NexGen Energy by 284.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock worth $33,000 after buying an additional 3,700 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in NexGen Energy by 3.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 134,655 shares of the company’s stock worth $888,000 after buying an additional 4,176 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Stock Down 3.6%

Shares of NXE stock opened at $6.60 on Friday. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96. The business’s 50 day moving average is $5.75 and its two-hundred day moving average is $5.96. The company has a market cap of $3.76 billion, a PE ratio of -41.22 and a beta of 1.54.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). As a group, equities analysts expect that NexGen Energy will post -0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NXE. Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a report on Friday, April 4th. Desjardins began coverage on NexGen Energy in a report on Tuesday, June 10th. They issued a “buy” rating on the stock. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus initiated coverage on NexGen Energy in a report on Wednesday, March 12th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “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.