Nevsun Resources (NSU) Price Target Raised to C$5.00 at Royal Bank Of Canada

Nevsun Resources (TSE:NSU) (TSE:NSU) had its price target lifted by Royal Bank Of Canada from C$4.00 to C$5.00 in a research report sent to investors on Monday morning.

Several other brokerages have also issued reports on NSU. Zacks Investment Research upgraded shares of Nevsun Resources from a hold rating to a buy rating and set a C$2.50 target price for the company in a research report on Thursday, September 7th. Scotiabank upgraded shares of Nevsun Resources from a sector perform rating to an outperform rating and set a C$3.50 target price for the company in a research report on Friday, September 8th. Raymond James Financial, Inc. reiterated a mkt perform rating on shares of Nevsun Resources in a research report on Tuesday, August 15th. TheStreet lowered shares of Nevsun Resources from a c rating to a d+ rating in a research report on Thursday, August 10th. Finally, TD Securities lowered shares of Nevsun Resources from a buy rating to a hold rating and dropped their target price for the company from C$5.00 to C$4.00 in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Nevsun Resources has an average rating of Hold and an average price target of C$4.16.

Shares of Nevsun Resources (TSE:NSU) traded down 0.32% during trading on Monday, hitting $3.08. 131,470 shares of the stock traded hands. Nevsun Resources has a 1-year low of $2.49 and a 1-year high of $4.63. The stock has a 50-day moving average of $2.80 and a 200 day moving average of $3.01. The company’s market cap is $930.43 million.

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The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Thursday, September 28th.

In other Nevsun Resources news, insider Scott Trebilcock purchased 40,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were purchased at an average cost of C$2.82 per share, with a total value of C$112,800.00. Also, insider Peter Gerald Jan Kukielski purchased 105,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of C$2.62 per share, for a total transaction of C$275,100.00.

Hedge funds have recently bought and sold shares of the business. Shell Asset Management Co. raised its stake in shares of Nevsun Resources by 87.7% during the third quarter. Shell Asset Management Co. now owns 47,620 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 22,248 shares in the last quarter. K2 Principal Fund L.P. purchased a new position in shares of Nevsun Resources during the second quarter worth approximately $169,000. Virtu KCG Holdings LLC raised its stake in shares of Nevsun Resources by 605.3% during the second quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 66,465 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Nevsun Resources by 88.5% during the second quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 42,987 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of Nevsun Resources by 2.7% during the second quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 4,332 shares in the last quarter.

About Nevsun Resources

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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