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TrueBlueTribune: Nevsun Resources (NSU) Upgraded to Buy at TD Securities

Posted by: Semere Asmelash

Date: Friday, 27 October 2017

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Nevsun Resources (NSU) Upgraded to Buy at TD Securities

Posted by  on Oct 27th, 2017 
Analyst Recommendations for Nevsun Resources (TSE:NSU)
Nevsun Resources (TSE:NSU) (TSE:NSU) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
A number of other equities analysts have also recently commented on NSU. Eight Capital reiterated a “neutral” rating on shares of Nevsun Resources in a report on Thursday, August 17th. TheStreet cut Nevsun Resources from a “c” rating to a “d+” rating in a report on Thursday, August 10th. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday, August 15th. Royal Bank Of Canada cut Nevsun Resources from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$5.50 to C$4.00 in a report on Friday, August 11th. Finally, Scotiabank reduced their price target on Nevsun Resources from C$4.00 to C$3.50 and set a “sector perform” rating for the company in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of C$4.07.
Nevsun Resources (TSE:NSU) traded up 14.12% during trading on Friday, hitting $2.99. The company had a trading volume of 644,297 shares. The stock has a 50-day moving average of $2.78 and a 200-day moving average of $3.03. The stock’s market capitalization is $903.24 million. Nevsun Resources has a one year low of $2.49 and a one year high of $4.63.
In other news, insider Peter Gerald Jan Kukielski acquired 105,000 shares of Nevsun Resources stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average price of C$2.62 per share, for a total transaction of C$275,100.00. Also, insider Scott Trebilcock acquired 40,000 shares of Nevsun Resources stock in a transaction dated Friday, August 25th. The shares were purchased at an average price of C$2.82 per share, with a total value of C$112,800.00.
Large investors have recently modified their holdings of the company. Aperio Group LLC boosted its holdings in shares of Nevsun Resources by 2.7% during the second quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 4,332 shares during the period. FIL Ltd boosted its holdings in shares of Nevsun Resources by 10.0% during the second quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock worth $25,323,000 after acquiring an additional 949,823 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Nevsun Resources by 14.9% during the second quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company’s stock worth $25,893,000 after acquiring an additional 1,387,500 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Nevsun Resources by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,576,489 shares of the basic materials company’s stock worth $14,276,000 after acquiring an additional 292,766 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Nevsun Resources by 36.9% during the second quarter. Deprince Race & Zollo Inc. now owns 232,720 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 62,720 shares during the period.
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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