http://www.com-unik.info/2016/10/07/nevsun-resources-nsu-rating-increased-to-buy-at-zacks-investment-research.html
Nevsun Resources (NSU) Rating Increased to Buy at Zacks Investment Research
Posted by Jared Coughlin on Oct 7th, 2016
Nevsun Resources (TSE:NSU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a C$3.00 target price on the stock. Zacks Investment Research’s target price indicates a potential downside of 17.81% from the company’s current price.
According to Zacks, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa. “
Several other research firms also recently issued reports on NSU. TD Securities reaffirmed a “buy” rating and set a C$5.50 price target on shares of Nevsun Resources in a research note on Friday, July 29th. Dundee Securities lifted their target price on shares of Nevsun Resources from C$6.25 to C$7.00 in a research note on Monday, June 20th. Scotiabank reissued a “sector perform” rating and set a C$5.00 target price on shares of Nevsun Resources in a research note on Friday, September 30th. Royal Bank Of Canada reissued an “outperform” rating and set a C$6.50 target price on shares of Nevsun Resources in a research note on Friday, July 22nd. Finally, Raymond James Financial Inc. lowered their target price on shares of Nevsun Resources from C$5.00 to C$4.50 and set a “market perform” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$5.31.
Shares of Nevsun Resources (TSE:NSU) traded down 1.35% during midday trading on Thursday, hitting $3.65. The stock had a trading volume of 516,567 shares. The firm has a market capitalization of $1.09 billion and a PE ratio of 45.06. Nevsun Resources has a 1-year low of $3.27 and a 1-year high of $4.81. The company’s 50 day moving average price is $4.10 and its 200-day moving average price is $4.16.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Wednesday, September 28th.
In related news, insider Thomas S. Whelan purchased 50,000 shares of Nevsun Resources stock in a transaction on Friday, September 2nd. The stock was acquired at an average cost of C$4.10 per share, for a total transaction of C$205,000.00.
A number of large investors have recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in Nevsun Resources by 4.6% in the second quarter. Franklin Resources Inc. now owns 6,455,100 shares of the company’s stock worth $18,934,000 after buying an additional 285,000 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Nevsun Resources by 125,521.6% in the second quarter. JPMorgan Chase & Co. now owns 5,652,972 shares of the company’s stock worth $16,620,000 after buying an additional 5,648,472 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Nevsun Resources by 112.5% in the second quarter. Acadian Asset Management LLC now owns 4,431,377 shares of the company’s stock worth $12,931,000 after buying an additional 2,346,200 shares during the last quarter. Vanguard Group Inc. boosted its stake in Nevsun Resources by 15.6% in the second quarter. Vanguard Group Inc. now owns 3,465,598 shares of the company’s stock worth $10,189,000 after buying an additional 468,961 shares during the last quarter. Finally, Walthausen & Co. LLC boosted its stake in Nevsun Resources by 9.6% in the second quarter. Walthausen & Co. LLC now owns 1,991,819 shares of the company’s stock worth $5,856,000 after buying an additional 174,940 shares during the last quarter.
About Nevsun Resources
Nevsun Resources Ltd. is a mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. The Company’s segment is the mining business in Africa. The Company’s principal property is the Bisha Property which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.
Received on Fri Oct 07 2016 - 05:10:55 EDT