Drummond Knight Asset Management Pty Ltd Sells 381,040 Shares of NexGen Energy $NXE

Drummond Knight Asset Management Pty Ltd reduced its stake in shares of NexGen Energy (NYSE:NXE) by 40.6% in the third quarter, HoldingsChannel.com reports. The firm owned 556,471 shares of the company’s stock after selling 381,040 shares during the period. NexGen Energy comprises about 1.5% of Drummond Knight Asset Management Pty Ltd’s investment portfolio, making the stock its 11th largest holding. Drummond Knight Asset Management Pty Ltd’s holdings in NexGen Energy were worth $4,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Confluence Investment Management LLC lifted its holdings in shares of NexGen Energy by 11.3% in the third quarter. Confluence Investment Management LLC now owns 77,550 shares of the company’s stock valued at $694,000 after purchasing an additional 7,901 shares in the last quarter. Osaic Holdings Inc. raised its position in NexGen Energy by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock valued at $243,000 after buying an additional 1,904 shares during the last quarter. L1 Capital Pty Ltd lifted its stake in NexGen Energy by 10.3% during the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock valued at $234,683,000 after acquiring an additional 3,171,558 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in NexGen Energy by 120.3% during the 2nd quarter. Nomura Holdings Inc. now owns 30,543 shares of the company’s stock worth $212,000 after acquiring an additional 16,677 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in NexGen Energy by 4.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 53,935 shares of the company’s stock worth $374,000 after acquiring an additional 2,100 shares during the last quarter. 42.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NXE shares. Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of NexGen Energy in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

NexGen Energy Stock Up 3.1%

NexGen Energy stock opened at $9.44 on Wednesday. The firm has a 50 day moving average price of $8.76 and a 200-day moving average price of $7.90. NexGen Energy has a twelve month low of $3.91 and a twelve month high of $9.99. The company has a market capitalization of $6.18 billion, a P/E ratio of -23.01 and a beta of 1.54.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Equities analysts expect that NexGen Energy will post -0.05 EPS for the current fiscal year.

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.