Nevsun Resources (TSE:NSU) (TSE:NSU) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, The Fly reports.

Several other research analysts have also recently weighed in on the stock. Scotiabank reissued a “sector perform” rating and issued a C$4.25 price target on shares of Nevsun Resources in a report on Friday, April 28th. TD Securities lowered their price target 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. Royal Bank Of Canada reissued an “outperform” rating on shares of Nevsun Resources in a report on Monday, April 24th. TheStreet cut shares of Nevsun Resources from a “c” rating to a “d+” rating in a report on Thursday, August 10th. Finally, Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of C$4.31.

Shares of Nevsun Resources (TSE:NSU) opened at 2.73 on Wednesday. The firm’s market capitalization is $810.59 million. Nevsun Resources has a 52-week low of $2.49 and a 52-week high of $4.63. The company’s 50-day moving average price is $3.14 and its 200-day moving average price is $3.33.

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Several hedge funds and other institutional investors have recently made changes to their positions in NSU. Sprott Inc. raised its position in shares of Nevsun Resources by 298.1% in the third quarter. Sprott Inc. now owns 10,469,054 shares of the basic materials company’s stock worth $31,721,000 after buying an additional 7,839,628 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Nevsun Resources by 125,521.6% in the second quarter. JPMorgan Chase & Co. now owns 5,652,972 shares of the basic materials company’s stock worth $16,620,000 after buying an additional 5,648,472 shares during the last quarter. FIL Ltd raised its position in shares of Nevsun Resources by 75.8% in the first quarter. FIL Ltd now owns 9,542,826 shares of the basic materials company’s stock worth $24,536,000 after buying an additional 4,113,409 shares during the last quarter. Wells Fargo & Company MN raised 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. Finally, Acadian Asset Management LLC raised its position in shares of Nevsun Resources by 112.5% in the second quarter. Acadian Asset Management LLC now owns 4,431,377 shares of the basic materials company’s stock worth $12,931,000 after buying an additional 2,346,200 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.

The Fly

Analyst Recommendations for Nevsun Resources (TSE:NSU)

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