Nevsun Resources (TSE:NSU) (TSE:NSU)‘s stock had its “mkt perform” rating restated by investment analysts at Raymond James Financial, Inc. in a report released on Tuesday.

A number of other brokerages have also recently commented on NSU. Royal Bank Of Canada restated an “outperform” rating on shares of Nevsun Resources in a report on Monday, April 24th. Scotiabank restated a “sector perform” rating and set a C$4.00 target price on shares of Nevsun Resources in a report on Monday, July 17th. TD Securities dropped 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 report on Friday, April 28th. Finally, TheStreet cut shares of Nevsun Resources from a “c” rating to a “d+” rating in a report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$4.31.

Nevsun Resources (TSE:NSU) traded up 5.00% on Tuesday, hitting $2.73. 389,412 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $3.14 and a 200-day moving average price of $3.34. The stock’s market cap is $810.59 million. Nevsun Resources has a 52-week low of $2.49 and a 52-week high of $4.63.

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Institutional investors have recently made changes to their positions in the company. Hexavest Inc. boosted its position in shares of Nevsun Resources by 3.6% in the first quarter. Hexavest Inc. now owns 1,782,297 shares of the basic materials company’s stock worth $4,571,000 after buying an additional 62,411 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Nevsun Resources during the first quarter worth about $154,000. Wells Fargo & Company MN boosted its position in shares of Nevsun Resources by 1,523.6% in the first quarter. Wells Fargo & Company MN now owns 2,827,905 shares of the basic materials company’s stock worth $7,240,000 after buying an additional 2,653,735 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Nevsun Resources by 51.4% in the first quarter. Jennison Associates LLC now owns 5,437,404 shares of the basic materials company’s stock worth $13,964,000 after buying an additional 1,845,017 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nevsun Resources by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,258 shares of the basic materials company’s stock worth $685,000 after buying an additional 30,122 shares during the last quarter.

About Nevsun Resources

Nevsun Resources Ltd. engages in the acquisition, exploration, development, and operation of mineral properties in Africa. It explores for gold, copper, zinc, and silver deposits. The company’s principal assets include its 100% interest in the upper zone and 60.4% interest in the lower zone of the Timok project, a copper-gold development project in Serbia; and its 60% owned Bisha mine in Eritrea.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

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