Nevsun Resources (NYSEAMERICAN:NSU) Rating Increased to Buy at Zacks Investment Research
Nevsun Resources (NYSEAMERICAN:NSU) was upgraded byZacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, January 12th. The brokerage currently has a $2.75 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 16.03% from the stock’s previous close. 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. “
Separately, Macquarie raised Nevsun Resources from a “neutral” rating to an “outperform” rating in a report on Monday, November 13th.
Nevsun Resources (
NYSEAMERICAN NSU) opened at $2.37 on Friday. Nevsun Resources has a 52 week low of $1.96 and a 52 week high of $3.37. The stock has a market capitalization of $713.36, a price-to-earnings ratio of -13.94 and a beta of 0.88.
An institutional investor recently raised its position in Nevsun Resources stock. Bank of Montreal Can increased its stake in shares of Nevsun Resources (NYSEAMERICAN:NSU) by 7.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,542,439 shares of the company’s stock after acquiring an additional 109,936 shares during the period. Bank of Montreal Can owned 0.51% of Nevsun Resources worth $3,764,000 as of its most recent filing with the SEC.
Nevsun Resources Company Profile
Nevsun Resources Ltd. is a base metals company. The Company’s two principal properties are the Timok Project in Serbia, which hosts the copper-gold Cukaru Peki deposit on the Brestovac-Metovnica Exploration Permit (the B-M Permit) and the Bisha Property in Eritrea, which hosts the copper-zinc-gold Bisha deposit and includes satellite volcanogenic massive sulphides (VMS) deposits at Harena, Northwest, Hambok and Asheli.
