Nevsun Resources (TSE:NSU) (TSE:NSU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a C$2.50 target price on the basic materials company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.11% from the stock’s current price.

According to Zacks, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa. “

Several other research firms have also recently weighed in on NSU. Scotiabank restated a “sector perform” rating and set a C$4.00 price objective on shares of Nevsun Resources in a research report on Monday, July 17th. Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Nevsun Resources in a research report on Tuesday, August 15th. TheStreet cut shares of Nevsun Resources from a “c” rating to a “d+” rating in a research report on Thursday, August 10th. Royal Bank Of Canada cut shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$5.50 to C$4.00 in a research report on Friday, August 11th. Finally, TD Securities cut shares of Nevsun Resources from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$5.00 to C$4.00 in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$4.13.

Nevsun Resources (NSU) traded down 1.09% during mid-day trading on Thursday, hitting $2.72. 569,408 shares of the company’s stock were exchanged. The stock’s market cap is $821.68 million. Nevsun Resources has a 12 month low of $2.49 and a 12 month 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.

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In other Nevsun Resources news, insider Scott Trebilcock bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were bought 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 firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of C$2.62 per share, for a total transaction of C$275,100.00.

A number of large investors have recently modified their holdings of NSU. Wells Fargo & Company MN raised its position in Nevsun Resources by 1,523.6% in the 1st quarter. Wells Fargo & Company MN now owns 2,827,905 shares of the basic materials company’s stock worth $7,240,000 after purchasing an additional 2,653,735 shares during the period. Jennison Associates LLC raised its position in Nevsun Resources by 51.4% in the 1st quarter. Jennison Associates LLC now owns 5,437,404 shares of the basic materials company’s stock worth $13,964,000 after purchasing an additional 1,845,017 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Nevsun Resources by 12.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,258 shares of the basic materials company’s stock worth $685,000 after purchasing an additional 30,122 shares during the period. Karp Capital Management Corp purchased a new position in Nevsun Resources in the 1st quarter worth $408,000. Finally, Schroder Investment Management Group raised its position in Nevsun Resources by 5.7% in the 1st quarter. Schroder Investment Management Group now owns 2,582,411 shares of the basic materials company’s stock worth $8,599,000 after purchasing an additional 138,347 shares during the period.

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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