Date: Saturday, 25 February 2017
https://www.americanbankingnews.com/2017/02/24/nevsun-resources-nsu-upgraded-to-buy-at-canaccord-genuity.html Nevsun Resources (NSU) Upgraded to Buy at Canaccord Genuity February 25th, 2017 • Filed Under • by ABMN Staff Nevsun Resources (TSE:NSU) (TSE:NSU) was upgraded by Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Friday, The Fly reports. NSU has been the subject of several other reports. TD Securities reiterated a “buy” rating and issued a C$5.50 target price on shares of Nevsun Resources in a research note on Friday, October 28th. Scotiabank reiterated a “sector perform” rating and issued a C$5.00 target price on shares of Nevsun Resources in a research note on Friday, January 13th. Finally, BMO Capital Markets assumed coverage on Nevsun Resources in a research note on Wednesday, February 1st. They issued a “market perform” rating and a C$4.75 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$5.14. Shares of Nevsun Resources (TSE:NSU) traded down 7.79% during trading on Friday, hitting $3.55. The stock had a trading volume of 3,882,190 shares. Nevsun Resources has a 12-month low of $3.01 and a 12-month high of $4.81. The firm has a market cap of $1.07 billion and a price-to-earnings ratio of 47.97. The stock has a 50-day moving average of $4.18 and a 200 day moving average of $4.11. “Nevsun Resources (NSU) Upgraded to Buy at Canaccord Genuity” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/02/24/nevsun-resources-nsu-upgraded-to-buy-at-canaccord-genuity.html. A number of large investors have recently made changes to their positions in the company. Numeric Investors LLC purchased a new stake in shares of Nevsun Resources during the second quarter valued at approximately $225,000. Walthausen & Co. LLC raised its stake in shares of Nevsun Resources by 9.6% in the second quarter. Walthausen & Co. LLC now owns 1,991,819 shares of the company’s stock valued at $5,856,000 after buying an additional 174,940 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Nevsun Resources by 36.5% in the third quarter. CIBC Asset Management Inc now owns 122,828 shares of the company’s stock valued at $372,000 after buying an additional 32,813 shares in the last quarter. BARING ASSET MANAGEMENT Ltd raised its stake in shares of Nevsun Resources by 14.5% in the third quarter. BARING ASSET MANAGEMENT Ltd now owns 71,580 shares of the company’s stock valued at $216,000 after buying an additional 9,084 shares in the last quarter. Finally, AGF Investments Inc. raised its stake in shares of Nevsun Resources by 0.6% in the third quarter. AGF Investments Inc. now owns 855,662 shares of the company’s stock valued at $2,588,000 after buying an additional 5,200 shares in the last quarter. About Nevsun Resources Nevsun Resources Ltd is a Canada-based base metals mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. Its segment is the mining business in Africa. Its principal property is the Bisha Property, which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.