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(Kldaily.com) Time to Reconsider Nevsun Resources Limited (NYSEMKT:NSU) After Less Short Sellers?

Posted by: Biniam Tekle

Date: Tuesday, 30 May 2017


Time to Reconsider Nevsun Resources Limited (NYSEMKT:NSU) After Less Short Sellers?

May 29, 2017 - By Vivian Currie

Time to Reconsider Nevsun Resources Limited (NYSEMKT:NSU) After Less Short Sellers?

The stock of Nevsun Resources Limited (NYSEMKT:NSU) registered a decrease of 20.86% in short interest. NSU’s total short interest was 1.04 million shares in May as published by FINRA. Its down 20.86% from 1.32 million shares, reported previously. With 892,300 shares average volume, it will take short sellers 1 days to cover their NSU’s short positions. The short interest to Nevsun Resources Limited’s float is 0.35%.

The stock decreased 0.39% or $0.01 on May 26, reaching $2.53. About 1.01M shares traded or 12.53% up from the average. Nevsun Resources (USA) (NYSEMKT:NSU) has declined 26.11% since May 29, 2016 and is downtrending. It has underperformed by 42.81% the S&P500.

Nevsun Resources Ltd. is a base metals company. The company has market cap of $758.45 million. 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 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. It has a 96.53 P/E ratio. The Company’s principal mining operation is the Bisha Mine, which is located on the Bisha Property.

Nevsun Resources (USA) (NYSEMKT:NSU) Ratings Coverage

Among 4 analysts covering Nevsun Resources (NYSEMKT:NSU), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Nevsun Resources had 7 analyst reports since August 4, 2015 according to SRatingsIntel. On Friday, December 4 the stock rating was downgraded by Raymond James to “Mkt Perform”. The stock of Nevsun Resources (USA) (NYSEMKT:NSU) earned “Outperform” rating by Raymond James on Thursday, September 3.

More news for Nevsun Resources (USA) (NYSEMKT:NSU) were recently published by: Marketwatch.com, which released: “2.52” on December 21, 2009. Theguardian.com‘s article titled: “Canadian firm faces new forced labour claims over Eritrean mine” and published on October 14, 2016 is yet another important article.

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