Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in NexGen Energy Ltd. (NYSE:NXE)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of NexGen Energy Ltd. (NYSE:NXE) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 919,200 shares of the company’s stock after selling 168,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NexGen Energy were worth $6,054,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in NexGen Energy by 284.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock valued at $33,000 after acquiring an additional 3,700 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of NexGen Energy by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 10,575 shares of the company’s stock valued at $69,000 after purchasing an additional 5,827 shares in the last quarter. Silver Lake Advisory LLC bought a new position in shares of NexGen Energy during the fourth quarter worth about $73,000. Matauro LLC bought a new stake in NexGen Energy in the fourth quarter valued at about $84,000. Finally, SevenBridge Financial Group LLC acquired a new stake in NexGen Energy during the third quarter valued at approximately $87,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Trading Down 0.1 %

Shares of NYSE NXE opened at $4.69 on Friday. NexGen Energy Ltd. has a 12-month low of $4.44 and a 12-month high of $8.96. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 31.24 and a beta of 1.97. The stock’s 50 day simple moving average is $6.13 and its 200 day simple moving average is $6.77.

Analysts Set New Price Targets

NXE has been the subject of a number of research analyst reports. Stifel Nicolaus started coverage on NexGen Energy in a report on Wednesday. They issued a “buy” rating for the company. Stifel Canada upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.