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(OverNewsMagazine.com) Royal Bank Of Canada Downgrades Nevsun Resources (NSU) to Sector Perform

Posted by: Biniam Tekle

Date: Tuesday, 15 August 2017


Royal Bank Of Canada Downgrades Nevsun Resources (NSU) to Sector Perform

Bruno Cirelli
Agosto 15, 2017

Global X Management Co. Virtu KCG Holdings LLC boosted its position in Nevsun Resources by 605.3% in the second quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company's stock valued at $25,893,000 after buying an additional 1,387,500 shares during the last quarter. LLC now owns 559,346 shares of the basic materials company's stock worth $1,434,000 after buying an additional 39,390 shares in the last quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hexavest Inc. boosted its position in Nevsun Resources by 3.6% in the first quarter. TD Securities cut their price target on ARC Resources from C$23.00 to C$22.00 and set a buy rating on the stock in a research report on Thursday, May 4th. K2 Principal Fund L.P. purchased a new stake in Nevsun Resources during the second quarter worth about $169,000. Edmond DE Rothschild Holding S.A. boosted its position in Nevsun Resources by 44.2% in the first quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company's stock valued at $14,142,000 after buying an additional 291,317 shares during the last quarter. Nevsun Resources had 7 analyst reports since August 4, 2015 according to SRatingsIntel. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Nevsun Resources by 12.7% in the first quarter. The firm owned 4,140,800 shares of the basic materials company's stock after selling 2,066,800 shares during the period.

Shares of Nevsun Resources (NSU) opened at 2.67 on Thursday. The company's 50 day moving average price is $16.93 and its 200 day moving average price is $18.25. With 549,100 avg volume, 4 days are for Nevsun Resources Limited (NYSEMKT:NSU)'s short sellers to cover NSU's short positions. The stock has a market capitalization of $5.59 billion and a PE ratio of 12.19.

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10/28/2016 - Nevsun Resources Ltd had its "sector perform" rating reiterated by analysts at Scotiabank. 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 report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. On Friday, December 4 the stock rating was downgraded by Raymond James to "Mkt Perform".

ARC Resources Ltd is a crude oil and natural gas 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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