Drummond Knight Asset Management Pty Ltd Has $4.98 Million Holdings in NexGen Energy $NXE

Drummond Knight Asset Management Pty Ltd decreased its position in shares of NexGen Energy (NYSE:NXE) by 40.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 556,471 shares of the company’s stock after selling 381,040 shares during the quarter. NexGen Energy comprises approximately 1.5% of Drummond Knight Asset Management Pty Ltd’s investment portfolio, making the stock its 11th largest position. Drummond Knight Asset Management Pty Ltd owned approximately 0.10% of NexGen Energy worth $4,980,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Compound Planning Inc. acquired a new stake in shares of NexGen Energy during the first quarter worth $46,000. PenderFund Capital Management Ltd. boosted its position in NexGen Energy by 45.0% during the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company’s stock valued at $52,000 after acquiring an additional 3,600 shares during the last quarter. Canton Hathaway LLC acquired a new stake in NexGen Energy during the 2nd quarter worth about $57,000. Olympiad Research LP bought a new position in shares of NexGen Energy in the 2nd quarter worth about $73,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of NexGen Energy in the 2nd quarter valued at about $76,000. 42.43% of the stock is owned by institutional investors.

NexGen Energy Stock Up 3.1%

NYSE NXE opened at $9.44 on Wednesday. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $9.99. The business has a 50 day moving average price of $8.76 and a 200-day moving average price of $7.90. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -23.01 and a beta of 1.54.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). On average, equities research analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current year.

Analysts Set New Price Targets

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

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.