Scotiabank restated their sector perform rating on shares of Nevsun Resources (TSE:NSU) (TSE:NSU) in a research report sent to investors on Monday morning. The firm currently has a C$4.50 target price on the stock.
A number of other research analysts have also weighed in on NSU. Zacks Investment Research upgraded shares of Nevsun Resources from a hold rating to a buy rating and set a C$3.50 price objective for the company in a research note on Thursday, August 25th. TD Securities reiterated a buy rating and issued a C$5.50 price objective on shares of Nevsun Resources in a research note on Friday, October 28th. Canaccord Genuity reiterated a buy rating on shares of Nevsun Resources in a research note 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 for the company in a research note on Wednesday, October 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of C$5.19.
Shares of Nevsun Resources (TSE:NSU) opened at 4.27 on Monday. Nevsun Resources has a 1-year low of $3.27 and a 1-year high of $4.81. The company has a market capitalization of $1.28 billion and a PE ratio of 57.70. The firm’s 50-day moving average price is $3.93 and its 200 day moving average price is $4.06.
Nevsun Resources (TSE:NSU) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business earned $22.90 million during the quarter, compared to analysts’ expectations of $22.50 million. Equities analysts predict that Nevsun Resources will post $0.07 EPS for the current fiscal year.
In related news, insider Thomas S. Whelan acquired 50,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was bought at an average cost of C$4.10 per share, with a total value of C$205,000.00. Also, Director Gary Edward German sold 20,000 shares of Nevsun Resources stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of C$3.72, for a total transaction of C$74,400.00.
Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Nevsun Resources during the second quarter worth about $3,288,000. Global X Management Co. LLC bought a new stake in Nevsun Resources during the second quarter worth about $869,000. Bank of New York Mellon Corp increased its stake in Nevsun Resources by 28.9% in the second quarter. Bank of New York Mellon Corp now owns 317,012 shares of the company’s stock worth $932,000 after buying an additional 70,987 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in Nevsun Resources during the second quarter worth about $2,387,000. Finally, AGF Investments Inc. increased 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 worth $2,494,000 after buying an additional 848,179 shares in the last quarter.