Nevsun Resources (NSU) to Issue $0.01 Quarterly Dividend
Nevsun Resources (TSE:NSU) (TSE:NSU) declared a quarterly dividend on Friday, June 2nd. Investors of record on Friday, June 30th will be paid a dividend of 0.01 per share by the basic materials company on Monday, July 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, June 28th.
Nevsun Resources (TSE:NSU) opened at 3.27 on Monday. The company has a market cap of $987.46 million and a price-to-earnings ratio of 467.14. Nevsun Resources has a 12 month low of $2.83 and a 12 month high of $4.63. The company’s 50 day moving average is $3.21 and its 200-day moving average is $3.75.
In other news, insider Peter Tam purchased 10,000 shares of the stock in a transaction dated Friday, March 17th. The shares were purchased at an average price of C$3.28 per share, with a total value of C$32,800.00. Also, Director Ian Pearce purchased 29,500 shares of the stock in a transaction dated Thursday, March 9th. The shares were purchased at an average cost of C$2.50 per share, for a total transaction of C$73,750.00. In the last three months, insiders have bought 212,000 shares of company stock worth $642,845.
An institutional investor recently raised its position in Nevsun Resources stock. Vanguard Group Inc. boosted its stake in shares of Nevsun Resources (TSE:NSU) (TSE:NSU) by 5.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,576,489 shares of the basic materials company’s stock after buying an additional 292,766 shares during the period. Vanguard Group Inc.’s holdings in Nevsun Resources were worth $14,276,000 as of its most recent filing with the SEC.
Several equities research analysts recently commented on NSU shares. BMO Capital Markets raised shares of Nevsun Resources from a “market perform” rating to an “outperform” rating and cut their price target for the stock from C$4.50 to C$4.25 in a report on Friday, March 24th. Scotiabank reaffirmed a “sector perform” rating and set a C$4.25 target price on shares of Nevsun Resources in a research note on Friday, April 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Nevsun Resources in a research note on Monday, April 24th. TD Securities lowered their target price on shares of Nevsun Resources from C$5.50 to C$5.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Finally, Canaccord Genuity raised shares of Nevsun Resources from a “hold” rating to a “buy” rating in a research note on Friday, February 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$4.97.
Nevsun Resources Company Profile
Nevsun Resources Ltd. is a base metals company. The Company’s two principal properties are the Timok Project in Serbia, which hosts the copper-gold Cukaru Peki deposit on the Brestovac-Metovnica Exploration Permit (the B-M Permit) and the Bisha Property in Eritrea, which hosts the copper-zinc-gold Bisha deposit and includes satellite volcanogenic massive sulphides (VMS) deposits at Harena, Northwest, Hambok and Asheli.
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