Violich Capital Management Inc. Decreases Position in NexGen Energy Ltd. (NYSE:NXE)

Violich Capital Management Inc. reduced its position in shares of NexGen Energy Ltd. (NYSE:NXE) by 15.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 92,500 shares of the company’s stock after selling 16,900 shares during the period. Violich Capital Management Inc.’s holdings in NexGen Energy were worth $604,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NXE. Goldman Sachs Group Inc. increased its position in shares of NexGen Energy by 74.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,341,885 shares of the company’s stock worth $23,393,000 after purchasing an additional 1,430,709 shares in the last quarter. Southland Equity Partners LLC raised its position in shares of NexGen Energy by 22.0% in the first quarter. Southland Equity Partners LLC now owns 21,327 shares of the company’s stock valued at $166,000 after buying an additional 3,840 shares during the last quarter. Avalon Capital Management raised its position in shares of NexGen Energy by 8.3% in the first quarter. Avalon Capital Management now owns 54,671 shares of the company’s stock valued at $425,000 after buying an additional 4,173 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of NexGen Energy in the first quarter worth about $390,000. Finally, Van ECK Associates Corp boosted its position in NexGen Energy by 23.3% during the first 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 during the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Stock Up 2.7 %

NYSE NXE opened at $8.33 on Monday. The business’s fifty day simple moving average is $6.32 and its 200-day simple moving average is $6.92. The firm has a market cap of $4.71 billion, a PE ratio of 833.83 and a beta of 1.91. NexGen Energy Ltd. has a 52 week low of $4.95 and a 52 week high of $8.88.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. During the same quarter in the previous year, the company earned ($0.03) EPS. Research analysts expect that NexGen Energy Ltd. will post -0.09 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Ventum Cap Mkts upgraded NexGen Energy to a “strong-buy” rating in a research report on Monday, July 8th. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of $11.00.

About NexGen Energy

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.