Nevsun Resources Reports Q1 EPS Beat; Revenue Tops Single Analyst Estimate (NYSEMKT:NSU)
APRIL 22, 2016 BY ROBIN REYES IN EARNINGS NEWS, STOCK -- NEWS
Nevsun Resources (NYSEMKT:NSU) is higher in Thursday’s after hours session after the company posted better-than-expected Q1 earnings, while revenue beat a single analyst estimate. Shares are up 2.5% at $3.72, with a 52-week range of $2.27 – $4.36. The company, which is engaged in the acquisition, exploration, development and operation of mineral property interests, reported Q1 net income attributable to shareholders of $7.5 million or $0.04 per share, compared with the prior-year period’s $12.6 million or $0.06 per share.
The Capital IQ analyst estimate is for $0.03 EPS. Revenue was $92.4 million, down from $117.2 million in the same quarter last year. One analyst on Capital IQ was expecting revenue of $68 million. The company said it produced 34 million pounds of copper at C1 cash costs of $1.12 per payable pound sold.
The stock increased 4.01% or $0.14 during the last trading session, hitting $3.63. About 786,675 shares traded hands or 201.42% up from the average. Nevsun Resources (USA) (NYSEMKT:NSU) has risen 19.80% since September 16, 2015 and is uptrending. It has outperformed by 14.98% the S&P500.
Nevsun Resources Ltd. engages in the acquisition, exploration, development, and operation of mineral properties in Africa. The company explores for gold, copper, zinc, and silver deposits. Its principal property is the Bisha property located in Western Eritrea, North-Eastern Africa. The company was incorporated in 1965 and is headquartered in Vancouver, Canada.
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http://www.franklinindependent.com/nevsun-resources-stock-is-rising-now/
Nevsun Resources Stock Is Rising Now
by Franklin Staff — April 22, 2016
The stock of Nevsun Resources (TSE:NSU) is a huge mover today! The stock increased 4.77% or $0.21 on April 21, hitting $4.61. About 536,245 shares traded hands or 102.05% up from the average. Nevsun Resources (TSE:NSU) has risen 15.54% since September 16, 2015 and is uptrending. It has outperformed by 10.72% the S&P500. The move comes after 8 months positive chart setup for the $882.91 million company. It was reported on Apr, 22 by Barchart.com. We have $7.19 PT which if reached, will make TSE:NSU worth $494.43M more.
Out of 9 analysts covering Nevsun Resources (TSE:NSU), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. $4.62 is the highest target while $3.52 is the lowest. The $3.98 average target is 3.25% above today’s ($4.61) stock price. Nevsun Resources has been the topic of 9 analyst reports since July 24, 2015 according to StockzIntelligence Inc.
Nevsun Resources Ltd. is engaged in the acquisition, exploration, development and operation of mineral property interests. The company has a market cap of $882.91 million. 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). It has a 32.25 P/E ratio. The Company’s wholly owned subsidiaries include Nevsun (Barbados) Holdings Ltd., Nevsun Africa (Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd.
Received on Fri Apr 22 2016 - 12:14:00 EDT