Nevsun Resources (TSE:NSU) (TSE:NSU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 firms also recently weighed in on NSU. Scotiabank reaffirmed a “sector perform” rating and set a C$4.00 price objective on shares of Nevsun Resources in a report on Monday, July 17th. TD Securities downgraded Nevsun Resources from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$5.00 to C$4.00 in a report on Thursday, August 10th. Royal Bank Of Canada downgraded Nevsun Resources from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$5.50 to C$4.00 in a report on Friday, August 11th. Eight Capital reaffirmed a “neutral” rating on shares of Nevsun Resources in a report on Thursday, August 17th. Finally, BMO Capital Markets downgraded Nevsun Resources from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$4.00 to C$3.25 in a report on Wednesday, August 16th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of C$4.13.

Shares of Nevsun Resources (TSE NSU) remained flat at $2.65 during mid-day trading on Thursday. The company had a trading volume of 154,636 shares. Nevsun Resources has a 1-year low of $2.49 and a 1-year high of $4.63. The company’s market capitalization is $800.53 million. The stock’s 50 day moving average price is $2.80 and its 200 day moving average price is $3.12.

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In other Nevsun Resources news, insider Scott Trebilcock bought 40,000 shares of Nevsun Resources stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of C$2.82 per share, with a total value of C$112,800.00. Also, insider Peter Gerald Jan Kukielski bought 105,000 shares of Nevsun Resources stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of C$2.62 per share, for a total transaction of C$275,100.00.

Institutional investors and hedge funds have recently made changes to their positions in the company. Aperio Group LLC raised its position in Nevsun Resources by 2.7% in the 2nd quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 4,332 shares during the last quarter. 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 last quarter. 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 last quarter. BlueCrest Capital Management Ltd raised its position in Nevsun Resources by 7.4% in the 1st quarter. BlueCrest Capital Management Ltd now owns 1,476,400 shares of the basic materials company’s stock worth $3,780,000 after purchasing an additional 101,400 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in Nevsun Resources in the 1st quarter worth approximately $408,000.

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.

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