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.
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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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