Nevsun Resources (NYSEAMERICAN:NSU) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Nevsun Resources (NYSEAMERICAN:NSU) from a hold rating to a buy rating in a report published on Wednesday, January 3rd. Zacks Investment Research currently has $2.75 price target on the stock.

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. “

Separately, Macquarie upgraded shares of Nevsun Resources from a neutral rating to an outperform rating in a research note on Monday, November 13th.

Shares of Nevsun Resources (NSU) opened at $2.39 on Wednesday. The company has a market cap of $721.90, a price-to-earnings ratio of -14.06 and a beta of 0.88. Nevsun Resources has a 52-week low of $1.96 and a 52-week high of $3.52.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, December 29th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.04 dividend on an annualized basis and a yield of 1.67%. Nevsun Resources’s dividend payout ratio (DPR) is currently -23.53%.

A hedge fund recently raised its stake in Nevsun Resources stock. Allianz Asset Management GmbH raised its holdings in Nevsun Resources (NYSEAMERICAN:NSU) by 2,773.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 390,000 shares of the company’s stock after purchasing an additional 376,427 shares during the period. Allianz Asset Management GmbH owned approximately 0.13% of Nevsun Resources worth $842,000 at the end of the most recent quarter.

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About Nevsun Resources

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.

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