Macquarie Upgrades Nevsun Resources (NSU) to Outperform

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) was upgraded by investment analysts at Macquarie from a “neutral” rating to an “outperform” rating in a report released on Monday.

Several other brokerages have also recently issued reports on NSU. Scotiabank reissued a “sector perform” rating and issued a C$4.00 price objective on shares of Nevsun Resources in a research note on Monday, July 17th. TD Securities lowered shares of Nevsun Resources from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$5.00 to C$4.00 in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of Nevsun Resources from a “hold” rating to a “sell” rating in a research report on Saturday, October 14th. Royal Bank Of Canada boosted their price objective on shares of Nevsun Resources from C$4.00 to C$5.00 in a research report on Monday, October 30th. Finally, Eight Capital raised shares of Nevsun Resources from a “neutral” rating to a “buy” rating and boosted their target price for the company from C$2.25 to C$4.25 in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of C$4.31.

Nevsun Resources (NSU) opened at C$3.05 on Monday. Nevsun Resources has a 1-year low of C$2.49 and a 1-year high of C$4.63.

TRADEMARK VIOLATION NOTICE: This report was first posted by Transcript Daily and is owned by of Transcript Daily. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://transcriptdaily.com/2017/11/15/macquarie-upgrades-nevsun-resources-nsu-to-outperform.html.

In related news, insider Peter Gerald Jan Kukielski bought 105,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of C$2.62 per share, with a total value of C$275,100.00. Also, insider Scott Trebilcock bought 40,000 shares of the company’s stock in a transaction on Friday, August 25th. The stock was bought at an average cost of C$2.82 per share, for a total transaction of C$112,800.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aperio Group LLC increased 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 valued at $395,000 after purchasing an additional 4,332 shares during the period. Shell Asset Management Co. increased its holdings in shares of Nevsun Resources by 87.7% during the third quarter. Shell Asset Management Co. now owns 47,620 shares of the basic materials company’s stock valued at $193,000 after purchasing an additional 22,248 shares during the period. Swiss National Bank increased its holdings in shares of Nevsun Resources by 6.1% during the second quarter. Swiss National Bank now owns 523,000 shares of the basic materials company’s stock valued at $1,263,000 after purchasing an additional 30,300 shares during the period. Bank of Nova Scotia increased its holdings in shares of Nevsun Resources by 88.5% during the second quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 42,987 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its stake in 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 valued at $561,000 after buying an additional 62,720 shares in the last quarter.

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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

Receive News & Ratings for Nevsun Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevsun Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply