PNC Financial Services Group Inc. Increases Stake in NexGen Energy Ltd. (NYSE:NXE)

PNC Financial Services Group Inc. has significantly increased its stake in NexGen Energy Ltd. (NYSE:NXE) by 284.6% during the last quarter of 2024, according to recent reports from Holdings Channel. As a result, the institutional investor now owns 5,000 shares after acquiring an additional 3,700 shares during that period. Based on its latest filings with the SEC, PNC’s holdings in NexGen Energy are valued at approximately $33,000.

In addition to PNC, several other large investors have been active in modifying their stakes in NexGen Energy. Larson Financial Group LLC raised its investment by 122.7% during the third quarter, bringing its total to 10,575 shares, which are now valued at $69,000 after purchasing an extra 5,827 shares. Furthermore, Silver Lake Advisory LLC and Matauro LLC each acquired new positions valued at $73,000 and $84,000, respectively, during the fourth quarter. Sanctuary Advisors LLC also established a new position worth $98,000 in the third quarter. Additionally, Janney Montgomery Scott LLC increased its stake by 10.8% in the fourth quarter, now owning 15,345 shares worth approximately $101,000. Overall, institutional investors own about 42.43% of NexGen Energy’s stock.

Current Shares and Market Performance

As of the latest trading session, shares of NYSE NXE opened at $4.83. The company currently has a market capitalization of $2.75 billion, with a price-to-earnings (PE) ratio of 32.17 and a beta of 1.97. NexGen Energy has experienced a 12-month low of $4.44 and a high of $8.96. Its 50-day moving average stands at $5.77, while its 200-day moving average is $6.71.

Analyst Insights

Recently, various research analysts have given opinions on NexGen Energy. Stifel Canada upgraded the company to a "strong-buy" rating on March 11. Stifel Nicolaus also initiated coverage and rated the stock as "buy" on March 12. In a separate report on March 6, Scotiabank reaffirmed an "outperform" rating for NexGen Energy. Currently, market analysts have provided a mix of ratings, with two issuing a buy recommendation and four categorizing the stock as a strong buy, resulting in an overall average rating of "Strong Buy" according to data from MarketBeat.com.

About NexGen Energy

NexGen Energy Ltd. is an exploration and development company focused on uranium properties in Canada. The company possesses a 100% interest in the Rook I project, which comprises 32 contiguous mineral claims covering a total area of 35,065 hectares located in the southwestern region of the Athabasca Basin in Saskatchewan.

Further Information

For those interested in understanding more about NexGen Energy or exploring the latest stock movements and analyst ratings, various resources are available to keep investors informed.

PNC, NexGen, Investment