Old West Investment Management LLC Takes Position in NexGen Energy $NXE

Old West Investment Management LLC acquired a new stake in shares of NexGen Energy (NYSE:NXE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,035,633 shares of the company’s stock, valued at approximately $19,115,000. NexGen Energy makes up 2.0% of Old West Investment Management LLC’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors have also bought and sold shares of the stock. Leonteq Securities AG boosted its stake in NexGen Energy by 88.2% during the first 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 in the last quarter. Trifecta Capital Advisors LLC bought a new stake in NexGen Energy in the second quarter worth about $46,000. SBI Securities Co. Ltd. raised its position in NexGen Energy by 454.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after acquiring an additional 6,528 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in NexGen Energy in the 2nd quarter valued at about $76,000. Finally, Jump Financial LLC acquired a new stake in NexGen Energy in the 4th quarter valued at about $93,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Price Performance

Shares of NXE opened at $10.38 on Monday. NexGen Energy has a one year low of $6.26 and a one year high of $13.96. The company has a 50-day moving average of $9.73 and a two-hundred day moving average of $11.15. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of -25.95 and a beta of 1.40.

Wall Street Analyst Weigh In

NXE has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

NexGen Energy Company 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.