Pekin Hardy Strauss Inc. Decreases Stake in NexGen Energy Ltd. (NYSE:NXE)

Pekin Hardy Strauss Inc. reduced its stake in shares of NexGen Energy Ltd. (NYSE:NXE) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,205 shares of the company’s stock after selling 7,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in NexGen Energy were worth $1,152,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Element Capital Management LLC acquired a new stake in NexGen Energy during the 2nd quarter worth about $110,000. CapWealth Advisors LLC acquired a new stake in shares of NexGen Energy during the second quarter worth about $147,000. TD Asset Management Inc boosted its position in NexGen Energy by 1.5% in the second quarter. TD Asset Management Inc now owns 3,131,701 shares of the company’s stock valued at $21,834,000 after buying an additional 47,394 shares during the last quarter. Larson Financial Group LLC acquired a new position in NexGen Energy in the 2nd quarter worth approximately $33,000. Finally, CIBC Asset Management Inc raised its position in NexGen Energy by 60.5% during the 2nd quarter. CIBC Asset Management Inc now owns 816,560 shares of the company’s stock worth $5,691,000 after buying an additional 307,675 shares during the last quarter. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Price Performance

Shares of NYSE NXE opened at $5.75 on Tuesday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -574.50 and a beta of 1.91. The firm’s 50 day simple moving average is $6.11 and its 200-day simple moving average is $7.07. NexGen Energy Ltd. has a 12 month low of $4.95 and a 12 month high of $8.88.

NexGen Energy (NYSE:NXE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. During the same quarter last year, the business posted ($0.03) EPS. Analysts anticipate that NexGen Energy Ltd. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NXE. Ventum Cap Mkts upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Monday, July 8th. National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NexGen Energy has an average rating of “Strong Buy” and a consensus price target of $11.00.

NexGen Energy Company Profile

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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.