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(American Banking News) Nevsun Resources (NSU) PT Raised to C$4.75 at Scotiabank

Posted by: Semere Asmelash

Date: Tuesday, 27 March 2018

Nevsun Resources (NSU) PT Raised to C$4.75 at Scotiabank

Posted by ABMN Staff on Mar 27th, 2018 

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU)had its price objective upped by equities research analysts at Scotiabank from C$4.00 to C$4.75 in a research note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 56.25% from the stock’s previous close.

NSU stock traded up C$0.08 on Tuesday, reaching C$3.04. 958,215 shares of the company’s stock were exchanged, compared to its average volume of 725,539. Nevsun Resources has a 12-month low of C$2.49 and a 12-month high of C$3.54. The firm has a market cap of $924.77, a price-to-earnings ratio of -8.39 and a beta of 0.25.

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) last announced its quarterly earnings results on Thursday, March 1st. The basic materials company reported C($0.01) earnings per share (EPS) for the quarter. Nevsun Resources had a negative net margin of 43.87% and a negative return on equity of 18.80%. The firm had revenue of C$102.36 million during the quarter.

A hedge fund recently raised its stake in Nevsun Resources stock. Schroder Investment Management Group grew its position in Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,291,699 shares of the basic materials company’s stock after buying an additional 127,338 shares during the period. Schroder Investment Management Group owned approximately 0.76% of Nevsun Resources worth $6,234,000 at the end of the most recent quarter.

About Nevsun Resources

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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

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