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Small Cap Investing: Base Metals Miner Climbs on Zinc Output, PEA

Posted by: Semere Asmelash

Date: Friday, 27 October 2017



Base Metals Miner Climbs on Zinc Output, PEA

OCTOBER 27, 2017

Nevsun Resources Ltd. (TSE:NSU), a base metals miner, moved up after announcing that zinc recoveries continue to improve at the Bisha Mine in Eritrea

Sean Mason | October 27, 2017 | SmallCapPower
Two pieces of good news lifted shares of a base metals miner Friday. Here’s some small stocks making big moves on Friday, October 27, 2017 (as of 11:30 am EST):
Nevsun Resources Ltd. (TSX:NSU) shares gained 11% to $2.90 on Friday after the base metals miner announced that zinc recoveries continue to improve at its 60% owned copper-zinc Bisha Mine in Eritrea, averaging 74.0% for the third quarter and 82.0% for September. The Company also released an updated Preliminary Economic Assessment (PEA) for the Timok Upper Zone project in Serbia, which estimates an after-tax NAV of $1.5 billion, using an 8% discount rate, with a 50% IRR.

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Best Stocks To Invest: Noble Corporation plc (NE), Nevsun Resources Ltd. (NSU)

Noble Corporation plc (NE) shares ended at $3.96 with 5.6 mln shares exchanging hands. That puts the market capitalization at $1.01 bln. It opened the session with a $3.99 price tag, later ranging from $3.88 to $4.03, the range at which the stock has traded at throughout the day. The stock stands nearly -52.69% off versus the 52-week high and 26.11% away from the 52-week low. The number of shares currently owned by investors are 255.26 mln.
Sell-side analyst recommendations point to a short term price target of $4.42 on the shares of Noble Corporation plc (NE). The consensus rating is 3, suggesting the market has given up on the stock. It has been assigned a low target price of $2 and a high target price of $7.
The current price is staying above the SMA lines which signify strength and is generally healthy/positive and may provide the momentum for driving the share price higher. Current price places the company’s stock -18.76% away from its 200-day simple moving average, 3.39%, away from the 50-day average and also -3.4% away from 20-day average.
For this year, Noble Corporation plc (NE) is performing -33.11%. Over the past five trading sessions it is 0.51%; -14.29% for the month; -1.98% for the last quarter; -17.5% for the past six-months; and -30.53% for the last 12 months. The last close places the company’s stock about $4.41 off its 52 week high of $8.37 and $0.82 above the 52 week low of $3.14.
Nevsun Resources Ltd. (NSU) closed down -0.03 points or -1.45% at $2.04 with 1.23 mln shares exchanging hands. Current price level places the company’s stock about -42.05% from the 52-week high and 4.08% away from the 52-week low. Sell-side analyst recommendations point to a short term price target of $2.85 on the company shares. The consensus rating is 2.6, suggesting the market has given up on the stock. It has been assigned a low target price of $2.33 and a high target price of $3.77.
Nevsun Resources Ltd. (NSU) opened the session with a $2.05 price tag, later ranging from $1.98 to $2.07, the range at which the stock has traded at throughout the day. The stock stands nearly $1.47 off versus the 52-week high of $3.52 and $0.09 above the 52-week low of $1.96. The number of shares currently owned by investors are 302.46 mln. The current price change puts the market capitalization at $617.02 mln.
In an overview of the current analyst recommendations, Buy count is 3 and Overweight is 0 while the number of analysts recommending Sell and Underweight are 0 and 0, respectively. Also, the Hold rating count is 7 as of 10/26/17. The analyst recommendations from a month ago are 3 Buy, 0 Overweight, 0 Sell, 7 Hold and 0 Underweight. Investors might also notice that three month ago the Buy recommendations (5) outnumbered Sell recommendations (0). The count of Hold ratings in that period was 3.


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