Legal & General Group Plc Buys Shares of 690,333 NexGen Energy $NXE

Legal & General Group Plc purchased a new position in shares of NexGen Energy (NYSE:NXE) during the second quarter, HoldingsChannel.com reports. The fund purchased 690,333 shares of the company’s stock, valued at approximately $6,481,000.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in NexGen Energy during the 4th quarter valued at about $72,303,000. The Manufacturers Life Insurance Company purchased a new stake in shares of NexGen Energy during the second quarter worth about $68,283,000. CIBC Asset Management Inc increased its holdings in shares of NexGen Energy by 341.9% during the fourth quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company’s stock valued at $81,312,000 after acquiring an additional 6,825,731 shares in the last quarter. Van ECK Associates Corp raised its position in shares of NexGen Energy by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock valued at $268,240,000 after purchasing an additional 5,523,932 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in NexGen Energy by 97.8% in the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after purchasing an additional 5,011,890 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Wall Street Zen upgraded NexGen Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Friday, August 28th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NexGen Energy has a consensus rating of “Hold”.

NexGen Energy Stock Performance

NXE opened at $10.22 on Thursday. NexGen Energy has a fifty-two week low of $7.33 and a fifty-two week high of $13.96. The company has a fifty day moving average of $9.83 and a two-hundred day moving average of $11.01. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of -25.56 and a beta of 1.40.

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.