Nevsun Resources (NSU) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) have been given an average recommendation of “Buy” by the eleven ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$4.57.

Several equities research analysts recently commented on the stock. Scotiabank set a C$4.75 price objective on shares of Nevsun Resources and gave the stock an “outperform” rating in a research report on Friday, January 12th. Macquarie upgraded shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a report on Monday, November 13th. Canaccord Genuity upped their target price on shares of Nevsun Resources from C$3.25 to C$4.50 in a report on Monday, October 30th. Eight Capital upgraded shares of Nevsun Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from C$2.25 to C$4.25 in a report on Monday, October 30th. Finally, Royal Bank of Canada upped their target price on shares of Nevsun Resources from C$4.00 to C$5.00 in a report on Monday, October 30th.

Nevsun Resources (TSE NSU) traded up C$0.06 during trading on Tuesday, hitting C$2.73. 885,000 shares of the company traded hands, compared to its average volume of 402,200. Nevsun Resources has a 1-year low of C$2.49 and a 1-year high of C$4.26. The stock has a market cap of $825.04, a price-to-earnings ratio of -12.41 and a beta of 0.36.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th were issued a $0.013 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Nevsun Resources’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, December 28th. Nevsun Resources’s dividend payout ratio is -31.82%.

In other news, Director David Smith bought 20,500 shares of Nevsun Resources stock in a transaction on Wednesday, December 6th. The shares were bought at an average cost of C$2.77 per share, for a total transaction of C$56,785.00.

Hedge funds have recently made changes to their positions in the company. Shell Asset Management Co. lifted its holdings in shares of Nevsun Resources by 87.7% during the 3rd quarter. Shell Asset Management Co. now owns 47,620 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 22,248 shares during the period. Virtu KCG Holdings LLC lifted its holdings in shares of Nevsun Resources by 605.3% during the 2nd quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 66,465 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Nevsun Resources by 88.5% during the 2nd quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 42,987 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Nevsun Resources by 1,040.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 388,286 shares of the basic materials company’s stock worth $838,000 after acquiring an additional 354,252 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Nevsun Resources by 6.1% during the 2nd quarter. Swiss National Bank now owns 523,000 shares of the basic materials company’s stock worth $1,263,000 after acquiring an additional 30,300 shares during the period.

COPYRIGHT VIOLATION NOTICE: “Nevsun Resources (NSU) Given Consensus Recommendation of “Buy” by Brokerages” was originally published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://www.thelincolnianonline.com/2018/02/11/nevsun-resources-nsu-given-consensus-recommendation-of-buy-by-brokerages.html.

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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

Receive News & Ratings for Nevsun Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevsun Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply