Raffles Associates LP Acquires Shares of 100,000 NexGen Energy $NXE

Raffles Associates LP acquired a new position in shares of NexGen Energy (NYSE:NXE) during the 2nd quarter, Holdings Channel reports. The firm acquired 100,000 shares of the company’s stock, valued at approximately $939,000. NexGen Energy accounts for about 0.8% of Raffles Associates LP’s investment portfolio, making the stock its 27th biggest position.

A number of other institutional investors also recently made changes to their positions in the business. Leonteq Securities AG boosted its stake in shares of NexGen Energy by 88.2% during the 1st quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after buying an additional 1,098 shares during the last quarter. Tidal Investments LLC increased its stake in shares of NexGen Energy by 6.9% in the second quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock worth $194,000 after buying an additional 1,817 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of NexGen Energy by 5.7% in the second quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock worth $243,000 after buying an additional 1,904 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in NexGen Energy by 4.1% in the second quarter. Evergreen Capital Management LLC now owns 53,935 shares of the company’s stock valued at $374,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in NexGen Energy by 12.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 27,656 shares of the company’s stock valued at $254,000 after acquiring an additional 3,128 shares in the last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

NexGen Energy Trading Up 1.3%

Shares of NXE opened at $11.21 on Friday. NexGen Energy has a 52 week low of $7.26 and a 52 week high of $13.96. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of -28.04 and a beta of 1.40. The stock has a 50 day moving average of $9.84 and a 200-day moving average of $11.06.

Analysts Set New Price Targets

Several research analysts have weighed in on NXE shares. Wall Street Zen raised shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NexGen Energy presently has an average rating of “Hold”.

NexGen Energy Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.