Short Interest in Nevsun Resources Decreases By 18.1% (NSU)
Shares of Nevsun Resources (NYSE:NSU) were the target of a significant decline in short interest in May. As of May 30th, there was short interest totalling 306,187 shares, a decline of 18.1% from the May 15th total of 373,931 shares, Stock Ratings News reports. Based on an average trading volume of 209,758 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the company’s shares are sold short.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Nevsun Resources to $4.50 in a research note on Tuesday, April 29th. They now have a “buy” rating on the stock. Analysts at TheStreet downgraded shares of Nevsun Resources from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $4.50.
Nevsun Resources (NYSE:NSU) opened at 3.57 on Thursday. Nevsun Resources has a 1-year low of $2.65 and a 1-year high of $4.33. The stock has a 50-day moving average of $3.48 and a 200-day moving average of $3.52. The company has a market cap of $711.8 million and a P/E ratio of 41.88.
Nevsun Resources (NYSE:NSU) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.12 by $0.04. On average, analysts predict that Nevsun Resources will post $0.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, June 26th.
Nevsun Resources Ltd. and its subsidiaries are in the mineral property exploration and development business in Africa.
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