Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) announced a quarterly dividend on Tuesday, December 12th, Zacks reports. Investors of record on Friday, December 29th will be given a dividend of 0.013 per share by the basic materials company on Wednesday, January 17th. This represents a $0.05 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, December 28th. This is a positive change from Nevsun Resources’s previous quarterly dividend of $0.01.
Nevsun Resources (NSU) traded up C$0.02 during trading on Wednesday, hitting C$2.89. The company had a trading volume of 257,735 shares, compared to its average volume of 657,869. The stock has a market cap of $873.12, a P/E ratio of -13.14 and a beta of 0.51. Nevsun Resources has a 52 week low of C$2.49 and a 52 week high of C$4.63.
In other Nevsun Resources news, Director David Smith purchased 20,500 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was acquired at an average price of C$2.77 per share, for a total transaction of C$56,785.00.
Several analysts have commented on the company. Scotiabank reiterated an “outperform” rating and set a C$4.75 target price on shares of Nevsun Resources in a research note on Tuesday, November 14th. Macquarie upgraded Nevsun Resources from a “neutral” rating to an “outperform” rating in a research note on Monday, November 13th. Zacks Investment Research downgraded Nevsun Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 14th. Canaccord Genuity increased their target price on Nevsun Resources from C$3.25 to C$4.50 in a research note on Monday, October 30th. Finally, Eight Capital upgraded Nevsun Resources from a “neutral” rating to a “buy” rating and increased their target price for the company from C$2.25 to C$4.25 in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$4.31.
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.
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