Shell Asset Management Co. Acquires 22,248 Shares of Nevsun Resources (NSU)

Shell Asset Management Co. lifted its holdings in Nevsun Resources (TSE:NSU) (TSE:NSU) by 87.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,620 shares of the basic materials company’s stock after purchasing an additional 22,248 shares during the period. Shell Asset Management Co.’s holdings in Nevsun Resources were worth $193,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Aperio Group LLC grew its holdings in Nevsun Resources by 2.7% during the 2nd quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock valued at $395,000 after buying an additional 4,332 shares in the last quarter. Sprott Inc. grew 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 valued at $8,271,000 after buying an additional 14,055 shares in the last quarter. Swiss National Bank grew its holdings in Nevsun Resources by 6.1% during the 2nd quarter. Swiss National Bank now owns 523,000 shares of the basic materials company’s stock valued at $1,263,000 after buying an additional 30,300 shares in the last quarter. Bank of Nova Scotia grew its holdings in Nevsun Resources by 88.5% during the 2nd quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock valued at $221,000 after buying an additional 42,987 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in Nevsun Resources by 36.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 232,720 shares of the basic materials company’s stock valued at $561,000 after buying an additional 62,720 shares in the last quarter.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, September 28th.

A number of research analysts recently weighed in on the stock. Canaccord Genuity raised their target price on shares of Nevsun Resources from C$3.25 to C$4.50 in a report on Monday. Eight Capital raised shares of Nevsun Resources from a “neutral” rating to a “buy” rating and raised their target price for the company from C$2.25 to C$4.25 in a report on Monday. Royal Bank Of Canada raised their target price on shares of Nevsun Resources from C$4.00 to C$5.00 in a report on Monday. TD Securities raised shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.75 target price for the company in a report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Nevsun Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of C$4.16.

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

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Nevsun Resources 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.

Institutional Ownership by Quarter for Nevsun Resources (TSE:NSU)

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