Nevsun Resources (NSU) Receives Average Recommendation of “Buy” from Analysts
Nevsun Resources (TSE:NSU) (TSE:NSU) has been assigned a consensus rating of “Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$4.54.
A number of research firms recently commented on NSU. Scotiabank reaffirmed a “sector perform” rating and set a C$4.00 target price on shares of Nevsun Resources in a report on Monday. BMO Capital Markets raised Nevsun Resources from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from C$4.50 to C$4.25 in a report on Friday, March 24th. TD Securities decreased their target price on Nevsun Resources from C$5.50 to C$5.00 and set a “buy” rating for the company in a report on Friday, April 28th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nevsun Resources in a report on Monday, April 24th.
Nevsun Resources (TSE NSU) traded down 2.53% during mid-day trading on Friday, hitting $3.08. 277,118 shares of the stock were exchanged. The stock has a market cap of $930.08 million and a price-to-earnings ratio of 440.00. The stock has a 50 day moving average of $3.15 and a 200-day moving average of $3.49. Nevsun Resources has a 52-week low of $2.83 and a 52-week high of $4.63.
The business also recently declared a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Friday, June 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Wednesday, June 28th.
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In related news, Director Anne Elizabeth Giardini purchased 24,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of C$3.13 per share, with a total value of C$75,120.00. Also, insider Thomas S. Whelan purchased 50,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was bought at an average cost of C$3.13 per share, with a total value of C$156,500.00. Insiders acquired 172,500 shares of company stock valued at $536,295 over the last three months.
A number of hedge funds and other institutional investors have recently made changes to their positions in NSU. Integrated Investment Consultants LLC bought a new position in shares of Nevsun Resources during the first quarter worth about $125,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of Nevsun Resources during the first quarter worth about $154,000. Edmond DE Rothschild Holding S.A. increased its position in shares of Nevsun Resources by 44.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 137,000 shares of the basic materials company’s stock worth $351,000 after buying an additional 42,000 shares during the last quarter. Cambrian Capital Limited Partnership increased its position in shares of Nevsun Resources by 84.0% in the first quarter. Cambrian Capital Limited Partnership now owns 138,000 shares of the basic materials company’s stock worth $353,000 after buying an additional 63,000 shares during the last quarter. Finally, Aperio Group LLC increased its position in shares of Nevsun Resources by 2.7% in the second quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after buying an additional 4,332 shares during the last quarter.
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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