Nevsun Resources (NSU) Receives Average Rating of “Hold” from Brokerages
Shares of Nevsun Resources (TSE:NSU) (TSE:NSU) have been assigned a consensus rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$4.25.
NSU has been the topic of a number of recent research reports. Eight Capital reaffirmed a “neutral” rating on shares of Nevsun Resources in a research report on Thursday, August 17th. Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday, August 15th. TheStreet lowered Nevsun Resources from a “c” rating to a “d+” rating in a report on Thursday, August 10th. TD Securities cut 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 note on Thursday, August 10th. Finally, Royal Bank Of Canada downgraded shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$5.50 to C$4.00 in a report on Friday, August 11th.
In other Nevsun Resources news, insider Scott Trebilcock bought 40,000 shares of the firm’s stock in a transaction 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 bought 105,000 shares of the firm’s stock in a transaction 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.
Large investors have recently added to or reduced their stakes in the business. Karp Capital Management Corp bought a new stake in shares of Nevsun Resources during the 1st quarter valued at about $408,000. Schroder Investment Management Group lifted its position in Nevsun Resources by 5.7% during the first quarter. Schroder Investment Management Group now owns 2,582,411 shares of the basic materials company’s stock valued at $8,599,000 after purchasing an additional 138,347 shares during the last quarter. Global X Management Co. LLC lifted its position in Nevsun Resources by 7.6% during the first quarter. Global X Management Co. LLC now owns 559,346 shares of the basic materials company’s stock valued at $1,434,000 after purchasing an additional 39,390 shares during the last quarter. Vanguard Group Inc. lifted its position in Nevsun Resources by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,576,489 shares of the basic materials company’s stock valued at $14,276,000 after purchasing an additional 292,766 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its stake in Nevsun Resources by 44.2% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 137,000 shares of the basic materials company’s stock worth $351,000 after buying an additional 42,000 shares in the last quarter.
Nevsun Resources (TSE NSU) traded up 0.70% during midday trading on Wednesday, hitting $2.86. The stock had a trading volume of 187,296 shares. The stock’s market cap is $863.97 million. The company has a 50-day moving average price of $2.69 and a 200-day moving average price of $3.08. Nevsun Resources has a 52 week low of $2.49 and a 52 week high of $4.63.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, September 28th.
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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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