Nevsun Resources (NSU) Given Consensus Rating of “Hold” by Brokerages

Shares of Nevsun Resources (TSE:NSU) (TSE:NSU) have earned a consensus recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$4.39.

A number of equities research analysts have commented on NSU shares. Canaccord Genuity lifted their target price on Nevsun Resources from C$3.25 to C$4.50 in a research report on Monday. Eight Capital upgraded Nevsun Resources from a “neutral” rating to a “buy” rating and lifted their target price for the company from C$2.25 to C$4.25 in a research report on Monday. Royal Bank Of Canada lifted their target price on Nevsun Resources from C$4.00 to C$5.00 in a research report on Monday. TD Securities upgraded Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.75 target price on the stock in a research report on Friday, October 27th. Finally, Zacks Investment Research downgraded Nevsun Resources from a “hold” rating to a “sell” rating in a research report on Saturday, October 14th.

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

Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in shares of Nevsun Resources by 14.9% in the 2nd 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. FIL Ltd increased its holdings in Nevsun Resources by 10.0% during the 2nd quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock worth $25,323,000 after purchasing an additional 949,823 shares during the period. Vanguard Group Inc. increased its holdings in Nevsun Resources by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company’s stock worth $14,142,000 after purchasing an additional 291,317 shares during the period. Sprott Inc. increased its holdings in Nevsun Resources by 0.4% during the 2nd quarter. Sprott Inc. now owns 3,431,806 shares of the basic materials company’s stock worth $8,271,000 after purchasing an additional 14,055 shares during the period. Finally, Royal Bank of Canada increased its holdings in Nevsun Resources by 505.7% during the 2nd quarter. Royal Bank of Canada now owns 980,600 shares of the basic materials company’s stock worth $2,364,000 after purchasing an additional 818,703 shares during the period.

Nevsun Resources (TSE:NSU) remained flat at $C$3.04 during midday trading on Friday. The company’s stock had a trading volume of 415,486 shares.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.32%.

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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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