Bank of Nova Scotia Acquires Shares of 20,748 NexGen Energy Ltd. (NYSE:NXE)

Bank of Nova Scotia bought a new stake in shares of NexGen Energy Ltd. (NYSE:NXE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,748 shares of the company’s stock, valued at approximately $137,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NXE. Public Employees Retirement System of Ohio purchased a new position in NexGen Energy during the 3rd quarter valued at about $852,000. Barclays PLC increased its stake in shares of NexGen Energy by 328.3% during the third quarter. Barclays PLC now owns 187,861 shares of the company’s stock valued at $1,227,000 after purchasing an additional 143,996 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of NexGen Energy by 719.6% during the third quarter. Toronto Dominion Bank now owns 180,140 shares of the company’s stock valued at $1,176,000 after purchasing an additional 158,160 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of NexGen Energy during the third quarter valued at approximately $98,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of NexGen Energy in the 4th quarter worth approximately $413,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Price Performance

NXE stock opened at $4.53 on Wednesday. The stock has a market capitalization of $2.58 billion, a P/E ratio of 30.22 and a beta of 2.02. NexGen Energy Ltd. has a 1-year low of $3.91 and a 1-year high of $8.96. The business has a fifty day moving average price of $5.07 and a 200-day moving average price of $6.55.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NXE. Raymond James reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, April 4th. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Nicolaus initiated coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They issued a “buy” rating on the stock. Finally, Stifel Canada upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Three 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, NexGen Energy currently has an average rating of “Strong Buy”.

NexGen Energy 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.