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(XNewsPress) Nevsun Resources (NSU) Upgraded by Zacks Investment Research to Hold

Posted by: Semere Asmelash

Date: Monday, 22 October 2018

Nevsun Resources (NSU) Upgraded by Zacks Investment Research to Hold

Posted by Rob Hiaasen on Oct 22nd, 2018

Zacks Investment Research upgraded shares of Nevsun Resources (NYSEAMERICAN:NSU) from a strong sell rating to a hold rating in a report released on Thursday, October 11th.

According to Zacks, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa. “
NSU has been the topic of a number of other reports. Scotiabank lowered shares of Nevsun Resources from an outperform rating to a sector perform rating in a report on Friday, September 7th. TheStreet upgraded shares of Nevsun Resources from a d+ rating to a c- rating in a research note on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $2.75.

Shares of NSU opened at $4.40 on Thursday. Nevsun Resources has a twelve month low of $1.98 and a twelve month high of $4.53.

Nevsun Resources (NYSEAMERICAN:NSU) last announced its quarterly earnings data on Thursday, July 26th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.08). Nevsun Resources had a negative net margin of 43.87% and a negative return on equity of 18.80%. The firm had revenue of $76.41 million during the quarter.

Large investors have recently made changes to their positions in the stock. Passport Capital LLC purchased a new position in Nevsun Resources during the 1st quarter worth $4,486,000. Renaissance Technologies LLC grew its position in Nevsun Resources by 1.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,801,200 shares of the company’s stock worth $6,252,000 after purchasing an additional 28,400 shares during the last quarter. Allianz Asset Management GmbH grew its position in Nevsun Resources by 31.7% during the 1st quarter. Allianz Asset Management GmbH now owns 884,576 shares of the company’s stock worth $2,106,000 after purchasing an additional 213,088 shares during the last quarter. Millennium Management LLC grew its position in Nevsun Resources by 77.9% during the 1st quarter. Millennium Management LLC now owns 864,860 shares of the company’s stock worth $2,058,000 after purchasing an additional 378,756 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Nevsun Resources during the 2nd quarter worth $2,764,000.

About Nevsun Resources

Nevsun Resources Ltd. engages in the mining and development of mineral properties in Europe, Africa, and North America. It explores for gold, copper, zinc, and silver deposits. The company's principal assets include Timok project, a copper-gold development project in Serbia; and Bisha copper- zinc mine in Eritrea.

Nevsun Resources (NSU) Upgraded by Zacks Investment Research to ...

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