Connor Clark & Lunn Investment Management Ltd. Makes New $7.30 Million Investment in NexGen Energy $NXE

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of NexGen Energy (NYSE:NXE) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 777,480 shares of the company’s stock, valued at approximately $7,300,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NXE. Bank of Nova Scotia purchased a new position in NexGen Energy during the second quarter valued at $157,000. Northwestern Mutual Wealth Management Co. bought a new stake in NexGen Energy in the 2nd quarter valued at $499,000. Quantbot Technologies LP purchased a new stake in NexGen Energy in the 2nd quarter worth $1,024,000. De Lisle Partners LLP purchased a new stake in NexGen Energy in the 2nd quarter worth $9,040,000. Finally, Ninepoint Partners LP bought a new position in shares of NexGen Energy during the 2nd quarter valued at about $3,333,000. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Stock Performance

NYSE NXE opened at $11.09 on Thursday. The stock has a 50 day moving average price of $9.83 and a 200-day moving average price of $11.05. NexGen Energy has a one year low of $7.17 and a one year high of $13.96. The company has a market capitalization of $7.42 billion, a P/E ratio of -27.72 and a beta of 1.40.

Wall Street Analysts Forecast Growth

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

About NexGen Energy

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.