Northwestern Mutual Wealth Management Co. Invests $499,000 in NexGen Energy $NXE

Northwestern Mutual Wealth Management Co. bought a new position in shares of NexGen Energy (NYSE:NXE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,147 shares of the company’s stock, valued at approximately $499,000.

Several other institutional investors also recently bought and sold shares of NXE. Leonteq Securities AG lifted its position in shares of NexGen Energy by 88.2% in the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock worth $28,000 after buying an additional 1,098 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new stake in NexGen Energy in the 2nd quarter worth approximately $46,000. SBI Securities Co. Ltd. lifted its holdings in NexGen Energy by 454.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after purchasing an additional 6,528 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in NexGen Energy during the second quarter worth approximately $76,000. Finally, Jump Financial LLC acquired a new position in NexGen Energy during the fourth quarter valued at approximately $93,000. 42.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NXE. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Finally, Wall Street Zen raised NexGen Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold”.

NexGen Energy Stock Performance

NYSE:NXE opened at $11.09 on Thursday. The firm’s 50-day moving average is $9.83 and its 200-day moving average is $11.05. NexGen Energy has a 52-week low of $7.17 and a 52-week high of $13.96. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -27.72 and a beta of 1.40.

About NexGen Energy

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.