Nevsun Resources (NSU) Lowered to Sell at Zacks Investment Research

Nevsun Resources (TSE:NSU) (TSE:NSU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa. “

Other research analysts have also recently issued research reports about the stock. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Nevsun Resources in a research note on Tuesday, August 15th. BMO Capital Markets cut shares of Nevsun Resources from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$4.00 to C$3.25 in a research note on Wednesday, August 16th. Royal Bank Of Canada cut shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$5.50 to C$4.00 in a research note on Friday, August 11th. Scotiabank upgraded shares of Nevsun Resources from a “sector perform” rating to an “outperform” rating and set a C$3.50 target price for the company in a research note on Friday, September 8th. Finally, Eight Capital reiterated a “neutral” rating on shares of Nevsun Resources in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Nevsun Resources presently has a consensus rating of “Hold” and an average target price of C$4.07.

Shares of Nevsun Resources (NSU) opened at 2.99 on Friday. Nevsun Resources has a 12 month low of $2.49 and a 12 month high of $4.63. The firm’s market capitalization is $903.24 million. The stock’s 50 day moving average price is $2.74 and its 200-day moving average price is $3.06.

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

Institutional investors have recently modified their holdings of the business. Aperio Group LLC grew its holdings in shares of Nevsun Resources by 2.7% in 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 during the period. Sprott Inc. grew its holdings in shares of Nevsun Resources by 0.4% in 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 during the period. Swiss National Bank grew its holdings in shares of Nevsun Resources by 6.1% in 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 during the period. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Nevsun Resources by 44.2% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 137,000 shares of the basic materials company’s stock valued at $351,000 after buying an additional 42,000 shares during the period. Finally, Bank of Nova Scotia grew its holdings in shares of Nevsun Resources by 88.5% in 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 during the period.

Nevsun Resources Company 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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

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