Nevsun Resources (NSU) Rating Lowered to D+ at TheStreet

Nevsun Resources (TSE:NSU) (TSE:NSU) was downgraded by equities researchers at TheStreet from a “c” rating to a “d+” rating in a report released on Thursday.

A number of other equities research analysts also recently weighed in on the stock. TD Securities decreased their target price on shares of Nevsun Resources from C$5.50 to C$5.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Royal Bank Of Canada restated an “outperform” rating on shares of Nevsun Resources in a report on Monday, April 24th. Finally, Scotiabank dropped their target price on shares of Nevsun Resources from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Nevsun Resources presently has a consensus rating of “Hold” and a consensus target price of C$4.31.

Shares of Nevsun Resources (TSE:NSU) opened at 2.67 on Thursday. The firm’s 50-day moving average price is $3.16 and its 200-day moving average price is $3.37. Nevsun Resources has a one year low of $2.49 and a one year high of $4.63. The firm’s market cap is $792.78 million.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu KCG Holdings LLC boosted its position in Nevsun Resources by 605.3% in the second quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock valued at $187,000 after buying an additional 66,465 shares in the last quarter. FIL Ltd increased its stake in shares of Nevsun Resources by 10.0% in the second quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock valued at $25,323,000 after buying an additional 949,823 shares during the period. K2 Principal Fund L.P. purchased a new stake in shares of Nevsun Resources during the second quarter valued at about $169,000. Vanguard Group Inc. increased its stake in shares of Nevsun Resources by 5.2% in the second quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company’s stock valued at $14,142,000 after buying an additional 291,317 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Nevsun Resources by 14.9% in the second quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company’s stock valued at $25,893,000 after buying an additional 1,387,500 shares during the period.

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.

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