Nevsun Resources (NSU) Sees Significant Decrease in Short Interest

Nevsun Resources (NYSEAMERICAN:NSU) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 441,913 shares, a drop of 20.4% from the January 15th total of 555,238 shares. Based on an average trading volume of 99,745 shares, the short-interest ratio is currently 4.4 days.

Separately, Zacks Investment Research raised shares of Nevsun Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 10th.

NSU stock opened at $4.50 on Tuesday. Nevsun Resources has a 52 week low of $2.10 and a 52 week high of $4.58.

A number of hedge funds have recently added to or reduced their stakes in NSU. Neuberger Berman Group LLC lifted its position in Nevsun Resources by 36.2% during the third quarter. Neuberger Berman Group LLC now owns 31,662 shares of the company’s stock valued at $141,000 after purchasing an additional 8,408 shares during the last quarter. BlackRock Inc. lifted its position in Nevsun Resources by 140.0% during the second quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock valued at $142,000 after purchasing an additional 23,835 shares during the last quarter. Jane Street Group LLC lifted its position in Nevsun Resources by 98.6% during the third quarter. Jane Street Group LLC now owns 36,879 shares of the company’s stock valued at $163,000 after purchasing an additional 18,307 shares during the last quarter. Legal & General Group Plc lifted its position in Nevsun Resources by 118.8% during the third quarter. Legal & General Group Plc now owns 88,832 shares of the company’s stock valued at $394,000 after purchasing an additional 48,227 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new position in Nevsun Resources during the third quarter valued at $666,000.

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Nevsun Resources Company Profile

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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