Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) – Equities research analysts at Cormark issued their FY2018 EPS estimates for Nevsun Resources in a research note issued on Monday. Cormark analyst S. Ioannou anticipates that the basic materials company will earn $0.08 per share for the year. Cormark also issued estimates for Nevsun Resources’ FY2019 earnings at $0.13 EPS, FY2020 earnings at $0.02 EPS, FY2021 earnings at ($0.05) EPS and FY2022 earnings at $0.33 EPS.
Several other brokerages have also issued reports on NSU. Scotiabank set a C$4.75 target price on shares of Nevsun Resources and gave the stock an “outperform” rating in a research report on Friday, January 12th. Canaccord Genuity upped their target price on shares of Nevsun Resources from C$3.25 to C$4.50 in a research report on Monday, October 30th. Eight Capital upgraded shares of Nevsun Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from C$2.25 to C$4.25 in a research report on Monday, October 30th. Macquarie upgraded shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, November 13th. Finally, Royal Bank of Canada upped their price target on shares of Nevsun Resources from C$4.00 to C$5.00 in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of C$4.31.
Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake 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 worth $2,364,000 after buying an additional 818,703 shares in the last quarter. Vanguard Group Inc. raised its stake in Nevsun Resources by 5.2% in the second quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company’s stock worth $14,142,000 after buying an additional 291,317 shares in the last quarter. Global X MANAGEMENT CO LLC raised its stake in Nevsun Resources by 34.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 677,324 shares of the basic materials company’s stock worth $1,462,000 after buying an additional 173,800 shares in the last quarter. Schroder Investment Management Group raised its stake in Nevsun Resources by 5.9% in the third quarter. Schroder Investment Management Group now owns 2,291,699 shares of the basic materials company’s stock worth $6,234,000 after buying an additional 127,338 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Nevsun Resources by 1,040.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 388,286 shares of the basic materials company’s stock worth $838,000 after buying an additional 354,252 shares in the last quarter.
In other news, Director David Smith acquired 20,500 shares of the stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average cost of C$2.77 per share, with a total value of C$56,785.00.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th were given a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a yield of 1.88%. This is a positive change from Nevsun Resources’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, December 28th. Nevsun Resources’s dividend payout ratio is presently -31.82%.
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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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