http://sleekmoney.com/short-interest-in-nevsun-resources-expands-by-17-6-nsu/733509/
Short Interest in Nevsun Resources Expands By 17.6% (NSU)
Posted on November 25, 2015 by Jamal Genner in Investing, Options Articles
Tweet
Shares of Nevsun Resources (NYSE:NSU) were the recipient of a
significant increase in short interest during the month of November.
As of November 13th, there was short interest totalling 262,418
shares, an increase of 17.6% from the October 30th total of 223,160
shares,Marketbeat.com reports. Approximately 0.1% of the company’s
stock are sold short. Based on an average daily volume of 138,071
shares, the short-interest ratio is currently 1.9 days.
Several brokerages recently issued reports on NSU. Zacks Investment
Research raised Nevsun Resources from a “sell” rating to a “hold”
rating in a report on Tuesday, November 3rd. Paradigm Capital reissued
a “buy” rating and issued a $5.50 target price (down from $7.50) on
shares of Nevsun Resources in a report on Monday, November 2nd. RBC
Capital reaffirmed a “sector perform” rating and set a $5.50 price
objective on shares of Nevsun Resources in a report on Wednesday,
October 21st. Scotiabank upgraded shares of Nevsun Resources from a
“sector perform” rating to an “outperform” rating in a research report
on Tuesday, September 29th. Finally, Raymond James restated an
“outperform” rating and issued a $5.00 price objective (down
previously from $5.25) on shares of Nevsun Resources in a research
report on Tuesday, August 4th. Five investment analysts have rated the
stock with a hold rating and four have given a buy rating to the
stock. The company currently has a consensus rating of “Hold” and an
average price target of $5.08.
Shares of Nevsun Resources (NYSE:NSU) traded up 3.33% during trading
on Tuesday, reaching $2.79. 145,541 shares of the company were
exchanged. The stock’s 50-day moving average is $2.99 and its 200-day
moving average is $3.33. The firm has a market cap of $557.39 million
and a price-to-earnings ratio of 12.29. Nevsun Resources has a 52-week
low of $2.57 and a 52-week high of $4.36.
Nevsun Resources (NYSE:NSU) last posted its quarterly earnings results
on Thursday, October 29th. The company reported $0.01 earnings per
share (EPS) for the quarter, missing the Thomson Reuters’ consensus
estimate of $0.02 by $0.01. Equities research analysts predict that
Nevsun Resources will post $0.16 earnings per share for the current
fiscal year.
Nevsun Resources Ltd. (NYSE:NSU) is engaged in the acquisition,
exploration, development and operation of mineral property interests.
The Company’s principal mining operation is the Bisha Mine and the
Company’s principal mineral property is the Bisha property, which is
owned by Bisha Mining Share Company (BMSC). The Company’s wholly owned
subsidiaries include Nevsun (Barbados) Holdings Ltd., Nevsun Africa
(Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd. The Company has
60% interest in BMSC. Bisha is a volcanogenic massive sulphide (VMS)
deposit located 150 kilometers west of Asmara, Eritrea, East Africa.
The Bisha mine hosts a gold, copper and zinc deposit and the overall
Bisha district includes satellite VMS deposits known as Harena,
Northwest and Hambok. The Bisha Main deposit is located within the
Bisha Mining License and the Harena satellite deposit lies in a
separate mining license 6 kilometers south. Bisha Main and Harena form
100% of the mineral reserves for Bisha.
Received on Wed Nov 25 2015 - 21:33:43 EST