Kite Lake Capital Management UK LLP Invests $44.17 Million in Nevsun Resources (NSU) Stock

Kite Lake Capital Management UK LLP bought a new stake in shares of Nevsun Resources (NYSEAMERICAN:NSU) in the third quarter, Holdings Channel reports. The fund bought 9,968,048 shares of the company’s stock, valued at approximately $44,172,000. Nevsun Resources makes up approximately 13.4% of Kite Lake Capital Management UK LLP’s holdings, making the stock its biggest holding.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Nevsun Resources by 140.0% during the 2nd quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock valued at $142,000 after buying an additional 23,835 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Nevsun Resources during the 2nd quarter valued at about $237,000. PCJ Investment Counsel Ltd. purchased a new position in Nevsun Resources during the 2nd quarter valued at about $699,000. ARP Americas LP purchased a new position in Nevsun Resources during the 3rd quarter valued at about $832,000. Finally, Virtu Financial LLC grew its holdings in Nevsun Resources by 435.5% during the 3rd quarter. Virtu Financial LLC now owns 171,528 shares of the company’s stock valued at $871,000 after buying an additional 139,499 shares in the last quarter.

NYSEAMERICAN:NSU opened at $4.48 on Monday. Nevsun Resources has a 1-year low of $2.00 and a 1-year high of $4.54.

Nevsun Resources (NYSEAMERICAN:NSU) last announced its quarterly earnings data on Thursday, October 25th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.07). The business had revenue of $71.61 million during the quarter.

Several research analysts have recently commented on NSU shares. Zacks Investment Research raised Nevsun Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, August 16th. Scotiabank lowered Nevsun Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, September 7th. Finally, Canaccord Genuity lowered Nevsun Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 11th.

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About Nevsun Resources

Nevsun Resources Ltd. engages in the mining and development of mineral properties in Europe, Africa, and North America. It explores for gold, copper, zinc, and silver deposits. The company's principal assets include Timok project, a copper-gold development project in Serbia; and Bisha copper- zinc mine in Eritrea.

Further Reading: Moving Average (MA)

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

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