Cormark Weighs in on Nevsun Resources’ FY2018 Earnings (NSU)

Nevsun Resources (NYSEAMERICAN:NSU) – Stock analysts at Cormark issued their FY2018 EPS estimates for Nevsun Resources in a note issued to investors on Monday. Cormark analyst S. Ioannou forecasts that the company will post earnings per share of $0.06 for the year. Cormark also issued estimates for Nevsun Resources’ FY2019 earnings at $0.10 EPS, FY2020 earnings at $0.02 EPS and FY2021 earnings at ($0.04) EPS.

Several other equities research analysts have also recently weighed in on NSU. Macquarie raised shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, November 13th. Zacks Investment Research raised shares of Nevsun Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th.

Shares of Nevsun Resources (NSU) traded up $0.04 on Tuesday, hitting $2.19. 159,435 shares of the stock traded hands, compared to its average volume of 759,196. Nevsun Resources has a 52-week low of $1.96 and a 52-week high of $3.22. The stock has a market cap of $674.70, a PE ratio of -12.65 and a beta of 0.73.

A number of large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in Nevsun Resources during the fourth quarter valued at approximately $441,000. Virtu Financial LLC lifted its position in Nevsun Resources by 873.9% during the fourth quarter. Virtu Financial LLC now owns 193,363 shares of the company’s stock valued at $472,000 after acquiring an additional 173,509 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Nevsun Resources by 40.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 347,847 shares of the company’s stock valued at $849,000 after acquiring an additional 99,334 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in Nevsun Resources during the fourth quarter valued at approximately $1,322,000. Finally, Bank of Montreal Can lifted its position in Nevsun Resources by 7.7% during the fourth quarter. Bank of Montreal Can now owns 1,542,439 shares of the company’s stock valued at $3,764,000 after acquiring an additional 109,936 shares during the last quarter.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.83%. Nevsun Resources’s payout ratio is presently -23.53%.

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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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