Nevsun Resources (TSE:NSU) (TSE:NSU) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a report released on Friday, The Fly reports.

NSU has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$2.25 price target for the company in a report on Thursday, August 24th. TheStreet downgraded shares of Nevsun Resources from a “c” rating to a “d+” rating in a report on Thursday, August 10th. TD Securities downgraded shares of Nevsun Resources from a “buy” rating to a “hold” rating and cut their price target for the stock from C$5.00 to C$4.00 in a report on Thursday, August 10th. BMO Capital Markets downgraded shares of Nevsun Resources from an “outperform” rating to a “market perform” rating and cut their price target for the stock from C$4.00 to C$3.25 in a report on Wednesday, August 16th. Finally, Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of C$4.13.

Nevsun Resources (TSE:NSU) traded down 2.18% on Friday, hitting $2.69. The stock had a trading volume of 221,792 shares. Nevsun Resources has a 12 month low of $2.49 and a 12 month high of $4.63. The firm’s 50 day moving average price is $2.93 and its 200-day moving average price is $3.18. The stock’s market cap is $812.61 million.

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In related news, insider Scott Trebilcock bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average price of C$2.82 per share, for a total transaction of C$112,800.00. Also, insider Peter Gerald Jan Kukielski bought 105,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average price of C$2.62 per share, with a total value of C$275,100.00.

A number of institutional investors have recently bought and sold shares of the stock. FIL Ltd grew its stake 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 acquiring an additional 4,113,409 shares in the last quarter. Wells Fargo & Company MN grew its stake 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 acquiring an additional 2,653,735 shares in the last quarter. Jennison Associates LLC grew its stake 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 acquiring an additional 1,845,017 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Nevsun Resources by 14.9% in the second quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company’s stock worth $25,893,000 after acquiring an additional 1,387,500 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Nevsun Resources by 505.7% in the second quarter. Royal Bank of Canada now owns 980,600 shares of the basic materials company’s stock worth $2,364,000 after acquiring an additional 818,703 shares in the last quarter.

Nevsun Resources Company Profile

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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