Nevsun Resources (TSE:NSU) (TSE:NSU) has been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$3.96.

Several analysts have issued reports on NSU shares. Zacks Investment Research upgraded Nevsun Resources from a “hold” rating to a “buy” rating and set a C$2.50 price objective on the stock in a report on Thursday. Scotiabank upgraded Nevsun Resources from a “sector perform” rating to an “outperform” rating and set a C$3.50 price objective on the stock in a report on Friday. Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday, August 15th. TheStreet downgraded Nevsun Resources from a “c” rating to a “d+” rating in a report on Thursday, August 10th. Finally, Royal Bank Of Canada downgraded Nevsun Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$5.50 to C$4.00 in a report on Friday, August 11th.

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

Institutional investors have recently made changes to their positions in the business. K2 Principal Fund L.P. bought a new stake in Nevsun Resources during the second quarter worth approximately $169,000. Virtu KCG Holdings LLC boosted its position in Nevsun Resources by 605.3% during the second quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 66,465 shares during the period. Bank of Nova Scotia boosted its position in Nevsun Resources by 88.5% during the second quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 42,987 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in Nevsun Resources by 44.2% during 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 purchasing an additional 42,000 shares during the period. Finally, Cambrian Capital Limited Partnership boosted its position in Nevsun Resources by 84.0% during the first quarter. Cambrian Capital Limited Partnership now owns 138,000 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 63,000 shares during the period.

Shares of Nevsun Resources (TSE:NSU) traded down 1.09% during midday trading on Friday, hitting $2.72. 569,408 shares of the stock were exchanged. The stock’s market cap is $821.68 million. Nevsun Resources has a one year low of $2.49 and a one year high of $4.63. The stock’s 50-day moving average price is $2.92 and its 200 day moving average price is $3.17.

About Nevsun Resources

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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

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