Posted by Oliver Carreras on May 18th, 2017

Nevsun Resources (TSE:NSU) (TSE:NSU)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research note issued on Monday, April 24th, StockTargetPrices.com reports.

NSU has been the subject of a number of other research reports. BMO Capital Markets assumed coverage on shares of Nevsun Resources in a research report on Wednesday, February 1st. They issued a “market perform” rating and a C$4.75 price objective for the company. TD Securities lowered their price objective on shares of Nevsun Resources from C$6.00 to C$5.50 and set a “buy” rating for the company in a research report on Friday, February 24th. Scotiabank lowered their target price on Nevsun Resources from C$5.00 to C$4.25 and set a “sector perform” rating for the company in a report on Friday, February 24th. Canaccord Genuity upgraded Nevsun Resources from a “hold” rating to a “buy” rating in a report on Friday, February 24th. Finally, Paradigm Capital lowered their target price on Nevsun Resources from C$7.70 to C$6.50 in a report on Monday, February 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$4.97.

Shares of Nevsun Resources (TSE:NSU) opened at 3.10 on Monday. The company’s 50 day moving average price is $3.23 and its 200-day moving average price is $3.80. Nevsun Resources has a 1-year low of $2.83 and a 1-year high of $4.63. The firm has a market cap of $936.12 million and a price-to-earnings ratio of 442.86.

Nevsun Resources (TSE:NSU) last posted its quarterly earnings results on Thursday, February 23rd. The basic materials company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $36.19 million during the quarter. Equities analysts expect that Nevsun Resources will post $0.01 EPS for the current fiscal year.

In other Nevsun Resources news, insider Joseph Paul Giuffre purchased 18,500 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was bought at an average cost of C$3.51 per share, for a total transaction of C$64,935.00. Also, insider Peter Tam acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average cost of C$3.28 per share, for a total transaction of C$32,800.00. Insiders have acquired 230,500 shares of company stock valued at $707,780 over the last 90 days.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Investment Consultants LLC bought a new stake in Nevsun Resources during the first quarter worth $125,000. Great West Life Assurance Co. Can boosted its stake in Nevsun Resources by 17.8% in the third quarter. Great West Life Assurance Co. Can now owns 48,397 shares of the basic materials company’s stock worth $146,000 after buying an additional 7,321 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in Nevsun Resources during the fourth quarter worth $154,000. 

DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Nevsun Resources during the first quarter worth approximately $154,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Nevsun Resources by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 110,074 shares of the basic materials company’s stock worth $334,000 after buying an additional 2,000 shares during the period.

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.