Old West Investment Management LLC Cuts Stake in NexGen Energy Ltd. (NYSE:NXE)

Old West Investment Management LLC trimmed its position in NexGen Energy Ltd. (NYSE:NXE) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,004,980 shares of the company’s stock after selling 138,048 shares during the period. NexGen Energy comprises about 2.7% of Old West Investment Management LLC’s portfolio, making the stock its 17th largest holding. Old West Investment Management LLC owned approximately 0.18% of NexGen Energy worth $6,633,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of NexGen Energy by 284.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock valued at $33,000 after purchasing an additional 3,700 shares in the last quarter. Silver Lake Advisory LLC purchased a new stake in NexGen Energy in the 4th quarter valued at $73,000. Matauro LLC acquired a new stake in shares of NexGen Energy in the 4th quarter worth $84,000. Sanctuary Advisors LLC purchased a new position in shares of NexGen Energy during the 3rd quarter worth $98,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of NexGen Energy by 10.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock valued at $101,000 after acquiring an additional 1,500 shares during the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Price Performance

NYSE NXE opened at $4.18 on Friday. The stock has a market capitalization of $2.38 billion, a P/E ratio of 27.87 and a beta of 2.02. The firm’s 50-day moving average is $5.45 and its two-hundred day moving average is $6.67. NexGen Energy Ltd. has a 12 month low of $4.04 and a 12 month high of $8.96.

Analyst Ratings Changes

NXE has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of NexGen Energy in a research report on Wednesday, March 12th. They set a “buy” rating for the company. Stifel Canada raised shares of NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Two investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

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