Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Nevsun Resources (NYSEAMERICAN:NSU) by 335.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 297,100 shares of the company’s stock after acquiring an additional 228,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Nevsun Resources worth $1,317,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank grew its position in Nevsun Resources by 2.4% during the 3rd quarter. Swiss National Bank now owns 535,800 shares of the company’s stock worth $2,368,000 after acquiring an additional 12,800 shares during the last quarter. BlackRock Inc. grew its position in Nevsun Resources by 140.0% during the 2nd quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock worth $142,000 after acquiring an additional 23,835 shares during the last quarter. Renaissance Technologies LLC grew its position in Nevsun Resources by 1.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,801,200 shares of the company’s stock worth $6,252,000 after acquiring an additional 28,400 shares during the last quarter. Virtu Financial LLC grew its position in Nevsun Resources by 435.5% during the 3rd quarter. Virtu Financial LLC now owns 171,528 shares of the company’s stock worth $871,000 after acquiring an additional 139,499 shares during the last quarter. Finally, ARP Americas LP bought a new stake in Nevsun Resources during the 3rd quarter worth approximately $832,000.
Shares of NSU opened at $4.48 on Friday. Nevsun Resources has a 52 week low of $2.00 and a 52 week high of $4.54.
Nevsun Resources (NYSEAMERICAN:NSU) last announced its quarterly earnings data on Thursday, October 25th. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.07). The business had revenue of $71.61 million during the quarter.
A number of brokerages have commented on NSU. Zacks Investment Research lowered Nevsun Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Scotiabank lowered Nevsun Resources from an “outperform” rating to a “sector perform” rating in a research report on Friday, September 7th. Finally, Canaccord Genuity lowered Nevsun Resources from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th.
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About Nevsun Resources
Nevsun Resources Ltd. engages in the mining and development of mineral properties in Europe, Africa, and North America. It explores for gold, copper, zinc, and silver deposits. The company's principal assets include Timok project, a copper-gold development project in Serbia; and Bisha copper- zinc mine in Eritrea.
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