RBC Cuts Stake in NexGen Energy Amid Shifts Among Institutional Investors

Royal Bank of Canada has reduced its stake in NexGen Energy (NYSE:NXE) by 14.6% in the first quarter, according to a recent SEC filing. The bank sold 905,789 shares during this period and now owns approximately 5,281,117 shares worth $61,261,000. This represents about 0.80% of NexGen Energy's total stock.

This change is part of a broader trend where various institutional investors have modified their holdings in the company. Millennium Management LLC increased its stake by 15.3%, while NewEdge Advisors LLC lifted its position by 7.3%. Goldman Sachs Group Inc. also acquired an additional 36,510 shares, representing a 1.2% increase.

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing the 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.