Nevsun Resources (TSE:NSU) (TSE:NSU) declared a quarterly dividend on Friday, June 2nd, Wall Street Journal reports. Shareholders of record on Friday, June 30th will be given a dividend of 0.01 per share by the basic materials company on Monday, July 10th. This represents a $0.04 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, June 28th.
Nevsun Resources (TSE NSU) traded up 2.66% on Tuesday, reaching $3.09. 78,462 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $3.20 and a 200-day moving average of $3.65. The stock has a market cap of $933.10 million and a price-to-earnings ratio of 441.43. Nevsun Resources has a one year low of $2.83 and a one year high of $4.63.
A hedge fund recently raised its stake in Nevsun Resources stock. Vanguard Group Inc. boosted its position in Nevsun Resources (TSE:NSU) (TSE:NSU) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,576,489 shares of the basic materials company’s stock after buying an additional 292,766 shares during the period. Vanguard Group Inc.’s holdings in Nevsun Resources were worth $14,276,000 at the end of the most recent reporting period.
A number of brokerages have issued reports on NSU. Scotiabank reiterated a “sector perform” rating and set a C$4.25 price target on shares of Nevsun Resources in a research note on Friday, April 28th. BMO Capital Markets upgraded shares of Nevsun Resources from a “market perform” rating to an “outperform” rating and cut their price target for the stock from C$4.50 to C$4.25 in a research note on Friday, March 24th. Paradigm Capital cut their price target on shares of Nevsun Resources from C$7.70 to C$6.50 in a research note on Monday, February 27th. Royal Bank Of Canada cut their price target on shares of Nevsun Resources from C$6.50 to C$5.50 and set an “outperform (spec)” rating on the stock in a research note on Monday, February 27th. Finally, TD Securities cut their price target on shares of Nevsun Resources from C$5.50 to C$5.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Nevsun Resources has an average rating of “Buy” and an average target price of C$4.72.
About Nevsun Resources
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.
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