Nevsun Resources (TSE:NSU) (TSE:NSU) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a C$3.75 price target on the basic materials company’s stock. TD Securities’ target price suggests a potential upside of 63.04% from the company’s current price.

Several other brokerages also recently commented on NSU. Scotiabank reaffirmed a “sector perform” rating and issued a C$4.00 target price on shares of Nevsun Resources in a research note on Monday, July 17th. Royal Bank Of Canada downgraded shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$5.50 to C$4.00 in a research note on Friday, August 11th. TheStreet downgraded shares of Nevsun Resources from a “c” rating to a “d+” rating in a research note on Thursday, August 10th. Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Nevsun Resources in a research note on Tuesday, August 15th. Finally, BMO Capital Markets downgraded shares of Nevsun Resources from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$4.00 to C$3.25 in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Nevsun Resources presently has a consensus rating of “Hold” and an average price target of C$4.04.

Nevsun Resources (TSE:NSU) traded up 12.98% during midday trading on Friday, reaching $2.96. 2,272,988 shares of the company’s stock were exchanged. Nevsun Resources has a 12 month low of $2.49 and a 12 month high of $4.63. The firm has a 50 day moving average of $2.79 and a 200-day moving average of $3.02. The stock’s market cap is $894.18 million.

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In related 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 price 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 bought 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 added to or reduced their stakes in NSU. Franklin Resources Inc. boosted its holdings in Nevsun Resources by 14.9% in the second quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company’s stock valued at $25,893,000 after acquiring an additional 1,387,500 shares in the last quarter. FIL Ltd boosted its holdings in Nevsun Resources by 10.0% in the second quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock valued at $25,323,000 after acquiring an additional 949,823 shares in the last quarter. Royal Bank of Canada boosted its holdings in Nevsun Resources by 505.7% in the second quarter. Royal Bank of Canada now owns 980,600 shares of the basic materials company’s stock valued at $2,364,000 after acquiring an additional 818,703 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in Nevsun Resources in the second quarter valued at $811,000. Finally, Vanguard Group Inc. boosted its holdings in Nevsun Resources by 5.5% in 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 acquiring an additional 292,766 shares in the last quarter.

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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