Connective Portfolio Management LLC Makes New Investment in NexGen Energy $NXE

Connective Portfolio Management LLC acquired a new position in NexGen Energy (NYSE:NXE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 93,000 shares of the company’s stock, valued at approximately $1,076,000. NexGen Energy makes up approximately 2.9% of Connective Portfolio Management LLC’s portfolio, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in NexGen Energy by 2.1% in the third quarter. Vanguard Group Inc. now owns 21,353,712 shares of the company’s stock worth $191,180,000 after purchasing an additional 430,005 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NexGen Energy by 4.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock worth $274,103,000 after buying an additional 1,189,516 shares in the last quarter. Ion Asset Management Ltd. boosted its holdings in shares of NexGen Energy by 3,404.6% during the 3rd quarter. Ion Asset Management Ltd. now owns 2,348,100 shares of the company’s stock worth $21,015,000 after buying an additional 2,281,100 shares in the last quarter. Van ECK Associates Corp grew its position in shares of NexGen Energy by 28.9% during the 3rd quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock worth $211,517,000 after buying an additional 5,305,263 shares during the period. Finally, Citigroup Inc. grew its position in shares of NexGen Energy by 53.0% during the 3rd quarter. Citigroup Inc. now owns 676,352 shares of the company’s stock worth $6,057,000 after buying an additional 234,224 shares during the period. 42.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NXE has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. UBS Group initiated coverage on shares of NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating on the stock. Finally, Scotiabank restated an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

NexGen Energy Stock Performance

NXE stock opened at $10.64 on Friday. The business has a 50-day simple moving average of $11.48 and a two-hundred day simple moving average of $11.29. The company has a market capitalization of $7.04 billion, a P/E ratio of -21.71 and a beta of 1.35. NexGen Energy has a 52-week low of $6.26 and a 52-week high of $13.96.

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.