Short Interest in Nevsun Resources Declines By 59.1% (NSU)
Nevsun Resources (NYSE:NSU) was the target of a large drop in short interest in June. As of June 13th, there was short interest totalling 125,135 shares, a drop of 59.1% from the May 30th total of 306,187 shares, Analyst Ratings.Net reports. Based on an average trading volume of 142,242 shares, the short-interest ratio is currently 0.9 days. Approximately 0.1% of the company’s stock are sold short.
NSU has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Nevsun Resources has an average rating of “Hold” and an average price target of $4.50.
Nevsun Resources (NYSE:NSU) opened at 3.68 on Wednesday. Nevsun Resources has a 52-week low of $2.65 and a 52-week high of $4.33. The stock’s 50-day moving average is $3.49 and its 200-day moving average is $3.55. The company has a market cap of $733.7 million and a P/E ratio of 44.24.
Nevsun Resources (NYSE:NSU) last announced its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.12 by $0.04. Analysts expect that Nevsun Resources will post $0.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend 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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