https://www.americanbankingnews.com/2016/10/28/td-securities-reiterates-buy-rating-for-nevsun-resources-nsu.html
TD Securities Reiterates Buy Rating for Nevsun Resources (NSU)
October 29th, 2016 Filed Under • by ABMN Staff
Nevsun Resources (TSE:NSU)‘s stock had its “buy” rating reiterated by stock analysts at TD Securities in a note issued to investors on Friday. They currently have a C$5.50 target price on the stock. TD Securities’ price objective points to a potential upside of 44.74% from the stock’s current price.
NSU has been the topic of several other reports. Zacks Investment Research raised shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.50 target price on the stock in a report on Thursday, August 25th. Scotiabank reissued a “sector perform” rating and issued a C$5.00 target price on shares of Nevsun Resources in a report on Friday, September 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a C$6.50 target price on shares of Nevsun Resources in a report on Friday, July 22nd. Raymond James Financial Inc. decreased their target price on shares of Nevsun Resources from C$5.00 to C$4.50 and set a “market perform” rating on the stock in a report on Wednesday, October 5th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Nevsun Resources in a report on Wednesday, September 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Nevsun Resources has an average rating of “Buy” and an average target price of C$5.19.
Shares of Nevsun Resources (TSE:NSU) traded up 2.15% during trading on Friday, reaching $3.80. 1,064,603 shares of the company traded hands. The firm has a market capitalization of $1.14 billion and a price-to-earnings ratio of 46.91. Nevsun Resources has a 12-month low of $3.27 and a 12-month high of $4.81. The company has a 50 day moving average price of $3.96 and a 200 day moving average price of $4.11.
Nevsun Resources (TSE:NSU) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business earned $22.90 million during the quarter, compared to analyst estimates of $22.50 million. On average, equities analysts predict that Nevsun Resources will post $0.10 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Wednesday, September 28th.
In other news, insider Thomas S. Whelan purchased 50,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were purchased at an average price of C$4.10 per share, for a total transaction of C$205,000.00. Also, Director Gary Edward German sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of C$3.72, for a total transaction of C$74,400.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC increased its position in shares of Nevsun Resources by 16.7% in the second quarter. Barclays PLC now owns 35,000 shares of the company’s stock worth $103,000 after buying an additional 5,000 shares during the period. TFS Capital LLC increased its position in shares of Nevsun Resources by 51.3% in the second quarter. TFS Capital LLC now owns 38,466 shares of the company’s stock worth $113,000 after buying an additional 13,041 shares during the period. Paloma Partners Management Co increased its position in shares of Nevsun Resources by 147.1% in the second quarter. Paloma Partners Management Co now owns 48,000 shares of the company’s stock worth $141,000 after buying an additional 28,577 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Nevsun Resources by 17.8% in the third quarter. Great West Life Assurance Co. Can now owns 48,397 shares of the company’s stock worth $146,000 after buying an additional 7,321 shares during the period. Finally, FNY Managed Accounts LLC purchased a new position in shares of Nevsun Resources during the second quarter worth about $147,000.
Nevsun Resources Company Profile
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.
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Stock Rating Runner: Analysts at TD Securities Didn’t Change their Buy rating for Nevsun Resources (TSE:NSU) with $5.50 Price Target
-Nevsun Resources Ltd is a Canada-based base metals mining company. The company has a market cap of $1.15 billion. The Firm is engaged in the acquisition, exploration, development and operation of mineral property interests. It has a 32.62 P/E ratio. The Company’s segment is the mining business in Africa.
-According to Zacks Investment Research, “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.”
http://www.whatsonthorold.com/2016/10/28/stock-rating-runner-analysts-at-td-securities-didnt-change-their-buy-rating-for-nevsun-resources-tsensu-with-5-50-price-target/
Received on Sat Oct 29 2016 - 15:49:42 EDT