The FY2016 EPS Estimates for Nevsun Resources Decreased by Raymond James Financial (NSU)

The FY2016 EPS Estimates for Nevsun Resources Decreased by Raymond James Financial (NSU)

Nevsun Resources (TSE:NSU) – Equities research analysts at Raymond James Financial cut their FY2016 EPS estimates for shares of Nevsun Resources in a report released on Tuesday. Raymond James Financial analyst A. Terentiew now forecasts that the firm will post earnings of $0.09 per share for the year, down from their previous estimate of $0.17. Raymond James Financial currently has a “Market Perform” rating and a $4.50 target price on the stock.

A number of other brokerages have also recently commented on NSU. Scotiabank restated a “sector perform” rating and issued a C$5.00 price target on shares of Nevsun Resources in a research report on Wednesday, August 17th. Canaccord Genuity restated a “buy” rating on shares of Nevsun Resources in a research report on Wednesday, September 14th. TD Securities restated a “buy” rating and issued a C$5.50 price target on shares of Nevsun Resources in a research report on Friday, July 29th. Zacks Investment Research upgraded Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.50 price target on the stock in a research report on Thursday, August 25th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a C$6.50 price target on shares of Nevsun Resources in a research report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Nevsun Resources currently has an average rating of “Buy” and a consensus price target of C$5.31.

Shares of Nevsun Resources (TSE:NSU) opened at 3.84 on Friday. The company has a 50 day moving average of $4.09 and a 200-day moving average of $4.16. The firm has a market capitalization of $1.15 billion and a P/E ratio of 47.41. Nevsun Resources has a 12 month low of $3.27 and a 12 month high of $4.81.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Wednesday, September 28th.

In other news, insider Thomas S. Whelan purchased 50,000 shares of Nevsun Resources stock in a transaction dated Friday, September 2nd. The shares were bought at an average cost of C$4.10 per share, for a total transaction of C$205,000.00.

Several hedge funds have recently added to or reduced their stakes in NSU. JPMorgan Chase & Co. boosted its stake in Nevsun Resources by 125,521.6% in the second quarter. JPMorgan Chase & Co. now owns 5,652,972 shares of the company’s stock valued at $16,620,000 after buying an additional 5,648,472 shares during the period. Acadian Asset Management LLC boosted its stake in Nevsun Resources by 112.5% in the second quarter. Acadian Asset Management LLC now owns 4,431,377 shares of the company’s stock valued at $12,931,000 after buying an additional 2,346,200 shares during the period. Bank of Montreal Can purchased a new stake in Nevsun Resources during the second quarter valued at $3,288,000. AGF Investments Inc. boosted its stake in Nevsun Resources by 37,151.9% in the second quarter. AGF Investments Inc. now owns 850,462 shares of the company’s stock valued at $2,494,000 after buying an additional 848,179 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in Nevsun Resources during the second quarter valued at $2,387,000.

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