Nevsun Resources Lifted to Buy at Canaccord Genuity (NSU)
Posted on April 11, 2015 by Justin Garson in Analyst Articles - US, Investing
Canaccord Genuity upgraded shares of Nevsun Resources (NYSE:NSU) from a hold rating to a buy rating in a report released on Thursday, TheFlyOnTheWall.com reports.
Canaccord Genuity has also taken action a number of other basic materials stocks recently. The firm reiterated its buy rating on shares of SunOpta, Inc.. They have a $13.00 price target on that stock. Also, Canaccord Genuity reiterated its buy rating on shares of Glencore PLC. They have a GBX 430 ($6.41) price target on that stock. Finally, Canaccord Genuity lowered its price target on shares of BP plc from GBX 425 ($6.34) to GBX 415 ($6.19). They have a hold rating on that stock.
Shares of Nevsun Resources (NYSE:NSU) opened at 3.52 on Thursday. Nevsun Resources has a 52-week low of $3.17 and a 52-week high of $4.51. The stock’s 50-day moving average is $3. and its 200-day moving average is $3.. The company has a market cap of $702.79 million and a price-to-earnings ratio of 7.55.
Nevsun Resources (NYSE:NSU) last released its earnings data on Thursday, February 26th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.13 by $0.02. Analysts expect that Nevsun Resources will post $0.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Friday, March 27th.
Separately, analysts at Scotiabank reiterated a sector perform rating on shares of Nevsun Resources in a research note on Tuesday, March 24th.
Nevsun Resources Ltd. (NYSE:NSU) is a Canada-based mineral company. The Company is engaged in the production and sale of metals from its Bisha Mine in Eritrea, northeast Africa. Nevsun is a 60% shareholder in Bisha Mining Share Company (BMSC), which owns and operates the Bisha Mine.
Received on Sat Apr 11 2015 - 11:51:24 EDT