Nevsun Resources (NSU) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Nevsun Resources (NYSEAMERICAN:NSU) from a hold rating to a strong sell rating in a report published on Wednesday morning.

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 downgraded Nevsun Resources from an outperform rating to a sector perform rating in a research note on Friday, September 7th. TheStreet upgraded Nevsun Resources from a d+ rating to a c- rating in a research note on Tuesday, July 31st.

Nevsun Resources stock opened at $4.43 on Wednesday. Nevsun Resources has a 1-year low of $1.98 and a 1-year high of $4.50.

Nevsun Resources (NYSEAMERICAN:NSU) last posted its quarterly earnings results 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 business had revenue of $76.41 million during the quarter.

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Nevsun Resources by 140.0% in the second quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock valued at $142,000 after buying an additional 23,835 shares in the last quarter. Renaissance Technologies LLC boosted its position in Nevsun Resources by 1.6% during the second 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 in the last quarter. Jane Street Group LLC boosted its position in Nevsun Resources by 275.0% during the first quarter. Jane Street Group LLC now owns 52,464 shares of the company’s stock worth $125,000 after purchasing an additional 38,473 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nevsun Resources during the second quarter worth $237,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Nevsun Resources during the first quarter worth $422,000.

Nevsun Resources Company Profile

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.

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