Scotiabank Upgrades Nevsun Resources to Outperform (NSU)
September 29th, 2015 • by ABMN Staff
Nevsun Resources (NYSE:NSU) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Shares of Nevsun Resources (NYSE:NSU) opened at 2.82 on Tuesday. Nevsun Resources has a one year low of $2.57 and a one year high of $4.51. The firm’s 50-day moving average price is $2.90 and its 200 day moving average price is $3.52. The company has a market capitalization of $563.38 million and a PE ratio of 8.15.
Nevsun Resources (NYSE:NSU) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by $0.03. The business had revenue of $104.20 million for the quarter, compared to the consensus estimate of $113.11 million. Analysts anticipate that Nevsun Resources will post $0.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.04 dividend. The ex-dividend date is Monday, September 28th. This represents a $0.16 annualized dividend and a yield of 5.67%.
Several other research firms have also issued reports on NSU. Zacks upgraded shares of Nevsun Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 10th. TD Securities reiterated a “buy” rating and issued a $5.50 price objective (down previously from $5.75) on shares of Nevsun Resources in a report on Tuesday, August 4th. Raymond James restated an “outperform” rating and set a $5.00 price target (down previously from $5.25) on shares of Nevsun Resources in a report on Tuesday, August 4th. Canaccord Genuity reaffirmed a “hold” rating and set a $4.50 price objective (down previously from $4.75) on shares of Nevsun Resources in a research report on Tuesday, August 4th. Finally, TheStreet cut shares of Nevsun Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.88.
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 Tue Sep 29 2015 - 11:49:51 EDT