Nevsun Resources (NSU) Insider Peter Tam Purchases 10,000 Shares of Stock

Nevsun Resources (TSE:NSU) (TSE:NSU) insider Peter Tam acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were acquired at an average price of C$3.28 per share, for a total transaction of C$32,800.00.

Shares of Nevsun Resources (TSE:NSU) traded up 1.25% during midday trading on Monday, hitting $3.24. 896,646 shares of the company’s stock traded hands. The company has a 50 day moving average price of $3.72 and a 200 day moving average price of $4.02. Nevsun Resources has a 1-year low of $3.01 and a 1-year high of $4.81. The firm has a market capitalization of $978.06 million and a price-to-earnings ratio of 81.00.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be given a $0.01 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $0.04 annualized dividend and a yield of 1.23%.

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Several equities research analysts have commented on NSU shares. BMO Capital Markets started coverage on shares of Nevsun Resources in a research note on Wednesday, February 1st. They issued a “market perform” rating and a C$4.75 price target on the stock. Royal Bank of Canada dropped their price target on shares of Nevsun Resources from C$6.50 to C$5.50 and set an “outperform (spec)” rating on the stock in a research note on Monday, February 27th. Scotiabank restated a “sector perform” rating and issued a C$4.50 price target on shares of Nevsun Resources in a research note on Monday, November 28th. Canaccord Genuity upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating in a research note on Friday, February 24th. Finally, TD Securities dropped their price target on shares of Nevsun Resources from C$6.00 to C$5.50 and set a “buy” rating on the stock in a research note on Friday, February 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$5.08.

A number of hedge funds have recently bought and sold shares of the company. Sprott Inc. raised its stake in Nevsun Resources by 298.1% in the third quarter. Sprott Inc. now owns 10,469,054 shares of the company’s stock valued at $31,721,000 after buying an additional 7,839,628 shares in the last quarter. Allianz Asset Management AG raised its stake in Nevsun Resources by 4.8% in the fourth quarter. Allianz Asset Management AG now owns 483,004 shares of the company’s stock valued at $1,494,000 after buying an additional 22,264 shares in the last quarter. AGF Investments Inc. raised its stake in Nevsun Resources by 0.6% in the third quarter. AGF Investments Inc. now owns 855,662 shares of the company’s stock valued at $2,588,000 after buying an additional 5,200 shares in the last quarter. TD Asset Management Inc. raised its stake in Nevsun Resources by 45.8% in the third quarter. TD Asset Management Inc. now owns 1,211,888 shares of the company’s stock valued at $3,661,000 after buying an additional 380,800 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Nevsun Resources by 36.5% in the third quarter. CIBC Asset Management Inc now owns 122,828 shares of the company’s stock valued at $372,000 after buying an additional 32,813 shares in the last quarter.

About Nevsun Resources

Nevsun Resources Ltd is a Canada-based base metals mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. Its segment is the mining business in Africa. Its principal property is the Bisha Property, which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.

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