Shares of Nevsun Resources (TSE:NSU) (TSE:NSU) have earned an average rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$4.25.
NSU has been the subject of several recent analyst reports. Zacks Investment Research upgraded Nevsun Resources from a “hold” rating to a “buy” rating and set a C$2.50 target price for the company in a research note on Thursday, September 14th. Scotiabank cut their target price on Nevsun Resources from C$4.00 to C$3.50 and set a “sector perform” rating for the company in a research note on Thursday, August 10th. TheStreet cut Nevsun Resources from a “c” rating to a “d+” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada cut Nevsun Resources from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$5.50 to C$4.00 in a research note on Friday, August 11th.
In related news, insider Peter Gerald Jan Kukielski bought 105,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average cost of C$2.62 per share, with a total value of C$275,100.00. Also, insider Scott Trebilcock bought 40,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average cost of C$2.82 per share, with a total value of C$112,800.00.
Institutional investors have recently modified their holdings of the business. K2 Principal Fund L.P. acquired a new stake in Nevsun Resources during the 2nd quarter worth about $169,000. Virtu KCG Holdings LLC grew its stake in shares of Nevsun Resources by 605.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock valued at $187,000 after buying an additional 66,465 shares during the period. Bank of Nova Scotia grew its stake in shares of Nevsun Resources by 88.5% in the 2nd quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock valued at $221,000 after buying an additional 42,987 shares during the period. Edmond DE Rothschild Holding S.A. grew its stake in shares of Nevsun Resources by 44.2% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 137,000 shares of the basic materials company’s stock valued at $351,000 after buying an additional 42,000 shares during the period. Finally, Cambrian Capital Limited Partnership grew its stake in shares of Nevsun Resources by 84.0% in the 1st quarter. Cambrian Capital Limited Partnership now owns 138,000 shares of the basic materials company’s stock valued at $353,000 after buying an additional 63,000 shares during the period.
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Shares of Nevsun Resources (NSU) traded down 1.37% during trading on Wednesday, reaching $2.88. The company’s stock had a trading volume of 121,476 shares. The firm’s 50-day moving average is $2.71 and its 200 day moving average is $3.07. Nevsun Resources has a 52-week low of $2.49 and a 52-week high of $4.63. The company’s market cap is $870.01 million.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, September 28th.
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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