CIBC Asset Management Inc Has $6.04 Million Stock Holdings in NexGen Energy Ltd. (NYSE:NXE)

CIBC Asset Management Inc boosted its position in NexGen Energy Ltd. (NYSE:NXE) by 13.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 926,314 shares of the company’s stock after buying an additional 109,754 shares during the quarter. CIBC Asset Management Inc’s holdings in NexGen Energy were worth $6,043,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in NexGen Energy in the second quarter valued at about $33,000. DekaBank Deutsche Girozentrale bought a new position in NexGen Energy in the third quarter valued at about $76,000. New Harbor Financial Group LLC boosted its holdings in NexGen Energy by 20.0% in the third quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock valued at $98,000 after acquiring an additional 2,500 shares during the last quarter. Element Capital Management LLC bought a new position in NexGen Energy in the second quarter valued at about $110,000. Finally, Legacy Capital Group California Inc. bought a new position in NexGen Energy in the second quarter valued at about $125,000. Institutional investors own 42.43% of the company’s stock.

Analysts Set New Price Targets

Separately, National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average target price of $11.00.

NexGen Energy Stock Performance

Shares of NXE opened at $7.38 on Monday. NexGen Energy Ltd. has a 1 year low of $4.95 and a 1 year high of $8.88. The stock has a market cap of $4.17 billion, a P/E ratio of 49.20 and a beta of 1.90. The stock’s 50-day moving average price is $6.93 and its two-hundred day moving average price is $6.85.

NexGen Energy (NYSE:NXE) last issued its earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). During the same period in the previous year, the company posted ($0.04) earnings per share. As a group, equities analysts forecast that NexGen Energy Ltd. will post -0.06 EPS for the current year.

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.