Other hedge funds have also recently added to or reduced their stakes in the company. Aperio Group LLC grew its stake in shares of Nevsun Resources by 2.7% in 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 in the last quarter. FIL Ltd grew its stake in shares of Nevsun Resources by 10.0% in 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 in the last quarter. Franklin Resources Inc. grew its stake in shares of Nevsun Resources by 14.9% in 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Nevsun Resources by 5.5% in 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 in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Nevsun Resources by 36.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 232,720 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 62,720 shares during the last quarter.
A number of brokerages recently weighed in on NSU. Canaccord Genuity boosted their price target on shares of Nevsun Resources from C$3.25 to C$4.50 in a research report on Monday, October 30th. Eight Capital raised shares of Nevsun Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from C$2.25 to C$4.25 in a report on Monday, October 30th. Royal Bank Of Canada boosted their price target on shares of Nevsun Resources from C$4.00 to C$5.00 in a research note on Monday, October 30th. TD Securities upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.75 price target on the stock in a research note on Friday, October 27th. Finally,
Zacks Investment Research lowered shares of Nevsun Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Nevsun Resources presently has an average rating of “Hold” and a consensus target price of C$4.16.
Nevsun Resources (
TSE:NSU) opened at C$3.04 on Monday. Nevsun Resources has a one year low of C$2.49 and a one year high of C$4.63.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, September 28th.
In related news, insider Scott Trebilcock acquired 40,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was bought at an average cost of C$2.82 per share, with a total value of C$112,800.00. Also, insider Peter Gerald Jan Kukielski purchased 105,000 shares of Nevsun Resources stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of C$2.62 per share, for a total transaction of C$275,100.00.
Nevsun Resources 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.
