Trading Report: Today: Bank of Montreal Can Acquires 1,118,524 Shares of Nevsun Resources (NSU)

Today: Bank of Montreal Can Acquires 1,118,524  Shares of Nevsun Resources (NSU)

Bank of Montreal Can acquired a new position in shares of Nevsun Resources (TSE:NSU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,118,524 shares of the company’s stock, valued at approximately $3,288,000.

Other hedge funds have also added to or reduced their stakes in the company. Spark Investment Management LLC boosted its position in Nevsun Resources by 43.5% in the first quarter. Spark Investment Management LLC now owns 89,000 shares of the company’s stock worth $287,000 after buying an additional 27,000 shares during the last quarter. Aperio Group LLC raised its stake in Nevsun Resources by 14.6% in the first quarter. Aperio Group LLC now owns 115,856 shares of the company’s stock worth $375,000 after buying an additional 14,740 shares during the period. AXA raised its stake in Nevsun Resources by 8,478.9% in the first quarter. AXA now owns 163,000 shares of the company’s stock worth $529,000 after buying an additional 161,100 shares during the period. UBS Group AG raised its stake in Nevsun Resources by 249.9% in the first quarter. UBS Group AG now owns 165,095 shares of the company’s stock worth $535,000 after buying an additional 117,906 shares during the period. Finally, PCJ Investment Counsel Ltd. raised its stake in Nevsun Resources by 51.8% in the first quarter. PCJ Investment Counsel Ltd. now owns 341,623 shares of the company’s stock worth $1,109,000 after buying an additional 116,623 shares during the period.

Shares of Nevsun Resources (TSE:NSU) traded up 0.56% during midday trading on Friday, reaching $3.62. 501,550 shares of the company traded hands. The company has a 50 day moving average of $4.05 and a 200 day moving average of $4.14. Nevsun Resources has a 12 month low of $3.27 and a 12 month high of $4.81. The firm has a market capitalization of $1.08 billion and a P/E ratio of 44.69.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.42%.

A number of equities research analysts have recently weighed in on the stock. Dundee Securities raised their price objective on shares of Nevsun Resources from C$6.25 to C$7.00 in a report on Monday, June 20th. Zacks Investment Research upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.00 price objective on the stock in a report on Thursday, October 6th. TD Securities restated a “buy” rating and issued a C$5.50 price objective on shares of Nevsun Resources in a report on Monday, June 20th. Canaccord Genuity restated a “buy” rating on shares of Nevsun Resources in a report on Wednesday, September 14th. Finally, Raymond James Financial Inc. reduced their price objective on shares of Nevsun Resources from C$5.00 to C$4.50 and set a “market perform” rating on the stock in a report on Wednesday, October 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$5.31.

In related news, Director Gary Edward German sold 20,000 shares of Nevsun Resources stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of C$3.72, for a total value of C$74,400.00. Also, insider Thomas S. Whelan acquired 50,000 shares of the stock in a transaction that occurred on Friday, September 2nd. The stock was purchased at an average price of C$4.10 per share, with a total value of C$205,000.00.

Nevsun Resources Company Profile

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