Nevsun Resources (TSE:NSU) (TSE:NSU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a C$2.50 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 15.74% 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. “

A number of other research analysts also recently issued reports on the stock. BMO Capital Markets downgraded shares of Nevsun Resources from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$4.00 to C$3.25 in a research report on Wednesday, August 16th. Scotiabank restated a “sector perform” rating and set a C$4.00 target price on shares of Nevsun Resources in a research report on Monday, July 17th. TD Securities downgraded shares of Nevsun Resources from a “buy” rating to a “hold” rating and cut their target price for the company from C$5.00 to C$4.00 in a research report on Thursday, August 10th. Royal Bank Of Canada downgraded shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$5.50 to C$4.00 in a research report on Friday, August 11th. Finally, TheStreet downgraded shares of Nevsun Resources from a “c” rating to a “d+” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Nevsun Resources currently has a consensus rating of “Hold” and a consensus target price of C$4.13.

Shares of Nevsun Resources (TSE:NSU) traded up 0.38% during trading on Thursday, hitting $2.62. 1,139,112 shares of the stock traded hands. Nevsun Resources has a 1-year low of $2.49 and a 1-year high of $4.63. The company has a 50 day moving average of $2.84 and a 200-day moving average of $3.13. The company’s market cap is $791.47 million.

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

Several large investors have recently made changes to their positions in NSU. Wells Fargo & Company MN raised its position in shares of 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 valued at $7,240,000 after acquiring an additional 2,653,735 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 valued at $685,000 after acquiring an additional 30,122 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Nevsun Resources in the 1st quarter valued at approximately $408,000. Schroder Investment Management Group raised its position in shares of 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 valued at $8,599,000 after acquiring an additional 138,347 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Nevsun Resources in the 1st quarter valued at approximately $436,000.

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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