Gary Edward German Sells 20,000 Shares of Nevsun Resources (NSU) Stock
Nevsun Resources (TSE:NSU) Director Gary Edward German sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of C$3.72, for a total value of C$74,400.00.
Shares of Nevsun Resources (TSE:NSU) opened at 3.84 on Friday. The company has a market capitalization of $1.15 billion and a price-to-earnings ratio of 47.41. The company’s 50-day moving average price is $4.09 and its 200-day moving average price is $4.16. Nevsun Resources has a 52-week low of $3.27 and a 52-week high of $4.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, September 28th.
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Several equities analysts have commented on the company. Dundee Securities upped their price target on Nevsun Resources from C$6.25 to C$7.00 in a report on Monday, June 20th. Scotiabank reaffirmed a “sector perform” rating and issued a C$5.00 price target on shares of Nevsun Resources in a report on Friday, September 30th. Zacks Investment Research cut Nevsun Resources from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Nevsun Resources in a report on Wednesday, September 14th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a C$6.50 price objective on shares of Nevsun Resources in a research note on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of C$5.31.
A number of institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its position in Nevsun Resources by 16.7% in the second quarter. Barclays PLC now owns 35,000 shares of the company’s stock worth $103,000 after buying an additional 5,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nevsun Resources by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 160,192 shares of the company’s stock worth $467,000 after buying an additional 12,600 shares during the last quarter. TFS Capital LLC boosted its position in Nevsun Resources by 51.3% in the second quarter. TFS Capital LLC now owns 38,466 shares of the company’s stock worth $113,000 after buying an additional 13,041 shares during the last quarter. Aperio Group LLC boosted its position in Nevsun Resources by 14.6% in the first quarter. Aperio Group LLC now owns 115,856 shares of the company’s stock worth $375,000 after buying an additional 14,740 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Nevsun Resources by 8.1% in the second quarter. Alliancebernstein L.P. now owns 197,803 shares of the company’s stock valued at $582,000 after buying an additional 14,890 shares during the period.
Nevsun Resources Company Profile
Nevsun Resources Ltd. is a mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. The Company’s segment is the mining business in Africa. The Company’s principal property is the Bisha Property which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.
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