http://www.mideasttime.com/nevsun-resources-earns-outperform-rating-from-raymond-james-nsu/527827/
Nevsun Resources Earns “Outperform” Rating from Raymond James (NSU)
Posted by Hasmir Abdula on Aug 8th, 2015 // No Comments
Raymond James restated their outperform rating on shares ofNevsun
Resources (NYSE:NSU) in a report issued on Tuesday morning, Analyst
Ratings Network.com reports. The firm currently has a $5.00 target
price on the stock, down from their prior target price of $5.25.
NSU has been the topic of several other reports. TD Securities
reaffirmed a buy rating and issued a $5.50 price target (down from
$5.75) on shares of Nevsun Resources in a research note on Tuesday.
Zacks lowered shares of Nevsun Resources from a hold rating to a sell
rating in a research note on Tuesday, July 21st. Finally, Canaccord
Genuity downgraded shares of Nevsun Resources from a buy rating to a
hold rating in a report on Friday, May 1st. One analyst has rated the
stock with a sell rating, two have given a hold rating and three have
assigned a buy rating to the company’s stock. The company has a
consensus rating of Hold and a consensus target price of $5.00.
Shares of Nevsun Resources (NYSE:NSU) traded down 0.33% during midday
trading on Tuesday, hitting $2.98. The stock had a trading volume of
128,311 shares. The firm’s 50 day moving average price is $3.55 and
its 200 day moving average price is $3.69. Nevsun Resources has a
52-week low of $2.97 and a 52-week high of $4.51. The firm has a
market cap of $594.98 million and a price-to-earnings ratio of 6.64.
Nevsun Resources (NYSE:NSU) last posted its earnings results on
Thursday, July 30th. Thecompany reported $0.05 earnings per share
(EPS) for the quarter, missing the consensus estimate of $0.08 by
$0.03. The firm had revenue of $104.20 million for the quarter,
compared to analyst estimates of $113.11 million. On average, equities
research analysts expect that Nevsun Resources will post $0.23
earnings per share for the current year.
The company also recently declared a quarterly dividend, which was
issued on Wednesday, July 15th. Stockholders of record on Tuesday,
June 30th were issued a dividend of $0.04 per share. The ex-dividend
date of this dividend was Friday, June 26th. This represents a $0.16
dividend on an annualized basis and a dividend yield of 5.35%.
Nevsun Resources Ltd. (NYSE:NSU) is engaged in the acquisition,
exploration, development and operation of mineral property interests.
The Company’s principal mining operation is the Bisha Mine and the
Company’s principal mineral property is the Bisha property, which is
owned by Bisha Mining Share Company (BMSC). The Company’s wholly owned
subsidiaries include Nevsun (Barbados) Holdings Ltd., Nevsun Africa
(Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd. The Company has
60% interest in BMSC. Bisha is a volcanogenic massive sulphide (VMS)
deposit located 150 kilometers west of Asmara, Eritrea, East Africa.
The Bisha mine hosts a gold, copper and zinc deposit and the overall
Bisha district includes satellite VMS deposits known as Harena,
Northwest and Hambok. The Bisha Main deposit is located within the
Bisha Mining License and the Harena satellite deposit lies in a
separate mining license 6 kilometers south. Bisha Main and Harena form
100% of the mineral reserves for Bisha.
Received on Sat Aug 08 2015 - 11:29:37 EDT