Bornite Capital Management LP Sells 318,500 Shares of NexGen Energy Ltd. (NYSE:NXE)

Bornite Capital Management LP decreased its holdings in shares of NexGen Energy Ltd. (NYSE:NXE) by 61.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company’s stock after selling 318,500 shares during the period. Bornite Capital Management LP’s holdings in NexGen Energy were worth $1,554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NexGen Energy by 7.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,505,360 shares of the company’s stock worth $179,307,000 after acquiring an additional 1,744,062 shares in the last quarter. Swiss National Bank raised its position in shares of NexGen Energy by 12.9% in the 1st quarter. Swiss National Bank now owns 989,000 shares of the company’s stock worth $7,686,000 after acquiring an additional 112,700 shares in the last quarter. Southland Equity Partners LLC raised its position in shares of NexGen Energy by 22.0% in the 1st quarter. Southland Equity Partners LLC now owns 21,327 shares of the company’s stock worth $166,000 after acquiring an additional 3,840 shares in the last quarter. Van ECK Associates Corp raised its position in shares of NexGen Energy by 23.3% in the 1st quarter. Van ECK Associates Corp now owns 1,852,355 shares of the company’s stock worth $14,395,000 after acquiring an additional 350,017 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. bought a new position in shares of NexGen Energy in the 4th quarter worth approximately $7,000,000. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Price Performance

NXE stock traded down $0.15 on Monday, reaching $6.37. 2,570,962 shares of the company traded hands, compared to its average volume of 5,823,858. NexGen Energy Ltd. has a one year low of $4.54 and a one year high of $8.88. The company has a market cap of $3.58 billion, a P/E ratio of -636.36 and a beta of 1.93. The firm has a fifty day simple moving average of $7.09 and a 200-day simple moving average of $7.48.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, May 8th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). On average, sell-side analysts forecast that NexGen Energy Ltd. will post -0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NXE. Ventum Cap Mkts raised NexGen Energy to a “strong-buy” rating in a research report on Monday, July 8th. Scotiabank assumed coverage on NexGen Energy in a research report on Monday, April 1st. They set a “sector outperform” rating for the company. Finally, Haywood Securities raised NexGen Energy to a “strong-buy” rating in a research report on Friday, May 17th.

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