Date: Tuesday, 04 July 2017
Swiss National Bank continued to hold its stake in Nevsun Resources (TSE:NSU) (TSE:NSU) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 492,700 shares of the basic materials company’s stock at the end of the first quarter. Swiss National Bank owned 0.16% of Nevsun Resources worth $1,267,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN increased its stake in Nevsun Resources by 1,523.6% in the first quarter. Wells Fargo & Company MN now owns 2,827,905 shares of the basic materials company’s stock worth $7,240,000 after buying an additional 2,653,735 shares during the period. Jennison Associates LLC increased its stake in Nevsun Resources by 51.4% in the first quarter. Jennison Associates LLC now owns 5,437,404 shares of the basic materials company’s stock worth $13,964,000 after buying an additional 1,845,017 shares during the period. Renaissance Technologies LLC increased its stake in Nevsun Resources by 21.9% in the fourth quarter. Renaissance Technologies LLC now owns 6,207,600 shares of the basic materials company’s stock worth $19,180,000 after buying an additional 1,115,800 shares during the period. Hexavest Inc. increased its stake in Nevsun Resources by 3.6% in the first quarter. Hexavest Inc. now owns 1,782,297 shares of the basic materials company’s stock worth $4,571,000 after buying an additional 62,411 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Nevsun Resources during the first quarter worth about $154,000.
Shares of Nevsun Resources (TSE NSU) opened at 3.13 on Monday. The firm has a market cap of $945.18 million and a P/E ratio of 447.14. Nevsun Resources has a 52-week low of $2.83 and a 52-week high of $4.63. The stock’s 50 day moving average is $3.20 and its 200-day moving average is $3.60.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Friday, June 30th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.04 annualized dividend and a yield of 1.28%.
Several analysts have issued reports on NSU shares. BMO Capital Markets raised shares of Nevsun Resources from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from C$4.50 to C$4.25 in a research report on Friday, March 24th. Scotiabank reaffirmed a “sector perform” rating and issued a C$4.25 price objective on shares of Nevsun Resources in a research report on Friday, April 28th. TD Securities lowered their price objective on shares of Nevsun Resources from C$5.50 to C$5.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nevsun Resources in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$4.72.
In other Nevsun Resources news, insider Joseph Paul Giuffre purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were bought at an average cost of C$2.92 per share, with a total value of C$29,200.00. Also, Director Anne Elizabeth Giardini purchased 24,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average cost of C$3.13 per share, for a total transaction of C$75,120.00. Over the last 90 days, insiders purchased 172,500 shares of company stock valued at $536,295.
Nevsun Resources Company Profile
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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