Nevsun Resources (NSU) Plans $0.01 Quarterly Dividend

Nevsun Resources (TSE:NSU) (TSE:NSU) declared a quarterly dividend on Monday, February 27th. Investors of record on Friday, March 31st will be paid a dividend of 0.01 per share by the basic materials company on Thursday, April 13th. This represents a $0.04 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, March 29th.

Shares of Nevsun Resources (TSE:NSU) traded up 6.33% on Thursday, reaching $3.36. The company had a trading volume of 1,395,022 shares. Nevsun Resources has a 52 week low of $3.01 and a 52 week high of $4.81. The stock’s 50 day moving average is $3.33 and its 200 day moving average is $3.89. The firm has a market capitalization of $1.01 billion and a price-to-earnings ratio of 84.00.

Nevsun Resources (TSE:NSU) last posted its quarterly earnings results on Thursday, February 23rd. The basic materials company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $36.19 million for the quarter. On average, equities analysts anticipate that Nevsun Resources will post $0.02 EPS for the current year.

Dividend History for Nevsun Resources (TSE:NSU)

In other Nevsun Resources news, insider Peter Tam purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average price of C$3.28 per share, for a total transaction of C$32,800.00. Also, Director Ian Pearce bought 29,500 shares of Nevsun Resources stock in a transaction dated Thursday, March 9th. The stock was purchased at an average price of C$2.50 per share, with a total value of C$73,750.00. Over the last three months, insiders acquired 58,000 shares of company stock worth $171,485.

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NSU has been the topic of several recent analyst reports. BMO Capital Markets upgraded shares of Nevsun Resources from a “market perform” rating to an “outperform” rating and decreased their target price for the company from C$4.50 to C$4.25 in a report on Friday, March 24th. Canaccord Genuity raised shares of Nevsun Resources from a “hold” rating to a “buy” rating in a research note on Friday, February 24th. Royal Bank of Canada reduced 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 reissued a “sector perform” rating and issued a C$5.00 price target on shares of Nevsun Resources in a research note on Friday, January 13th. Finally, TD Securities reduced 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Nevsun Resources currently has a consensus rating of “Buy” and an average target price of C$5.03.

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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