Cormark Comments on Nevsun Resources’ FY2017 Earnings (NSU)

Nevsun Resources (NYSEAMERICAN:NSU) – Research analysts at Cormark issued their FY2017 earnings per share (EPS) estimates for Nevsun Resources in a report issued on Monday. Cormark analyst S. Ioannou anticipates that the company will post earnings of ($0.47) per share for the year.

A number of other research firms have also commented on NSU. Zacks Investment Research upgraded shares of Nevsun Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. Macquarie upgraded shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, November 13th.

Nevsun Resources (NYSEAMERICAN:NSU) opened at $2.16 on Wednesday. Nevsun Resources has a 1 year low of $1.96 and a 1 year high of $3.22. The company has a market cap of $674.70, a P/E ratio of -12.88 and a beta of 0.73.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.04 annualized dividend and a yield of 1.85%. Nevsun Resources’s payout ratio is presently -23.53%.

A number of institutional investors have recently made changes to their positions in the business. 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 purchasing an additional 109,936 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Nevsun Resources during the fourth quarter valued at approximately $2,696,000. Investec Asset Management LTD bought a new stake in Nevsun Resources during the fourth quarter valued at approximately $2,375,000. Allianz Asset Management GmbH lifted its position in Nevsun Resources by 72.2% during the fourth quarter. Allianz Asset Management GmbH now owns 671,488 shares of the company’s stock valued at $1,640,000 after purchasing an additional 281,488 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Nevsun Resources during the fourth quarter valued at approximately $1,322,000.

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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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