Nevsun Resources (TSE:NSU) (TSE:NSU) had its target price lifted by investment analysts at Royal Bank Of Canada from C$4.00 to C$5.00 in a note issued to investors on Monday. Royal Bank Of Canada’s target price suggests a potential upside of 108.33% from the stock’s previous close.

Several other equities analysts have also commented on the company. Eight Capital reiterated a “neutral” rating on shares of Nevsun Resources in a research report on Thursday, August 17th. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Nevsun Resources in a research report on Tuesday, August 15th. TheStreet lowered Nevsun Resources from a “c” rating to a “d+” rating in a research report on Thursday, August 10th. TD Securities lowered Nevsun Resources from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$5.00 to C$4.00 in a research report on Thursday, August 10th. Finally, Scotiabank reduced their price objective on Nevsun Resources from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$4.16.

Nevsun Resources (TSE NSU) traded up 4.39% on Monday, reaching $3.09. The company’s stock had a trading volume of 1,446,562 shares. The firm’s market cap is $933.45 million. The stock’s 50 day moving average price is $2.79 and its 200 day moving average price is $3.02. Nevsun Resources has a 52-week low of $2.49 and a 52-week high of $4.63.

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In related news, insider Scott Trebilcock purchased 40,000 shares of Nevsun Resources 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 Nevsun Resources stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of C$2.62 per share, for a total transaction of C$275,100.00.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Shell Asset Management Co. grew its position in Nevsun Resources by 87.7% during the 3rd quarter. Shell Asset Management Co. now owns 47,620 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 22,248 shares during the last quarter. K2 Principal Fund L.P. bought a new position in Nevsun Resources during the 2nd quarter worth approximately $169,000. Virtu KCG Holdings LLC grew its position in Nevsun Resources by 605.3% during the 2nd quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 66,465 shares during the last quarter. Bank of Nova Scotia grew its position in Nevsun Resources by 88.5% during the 2nd quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 42,987 shares during the last quarter. Finally, Aperio Group LLC grew its position in Nevsun Resources by 2.7% during the 2nd quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 4,332 shares during 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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