Nevsun Resources (NSU) Given “Outperform” Rating at Scotiabank

Scotiabank restated their outperform rating on shares of Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) in a research note released on Tuesday. They currently have a C$4.75 price target on the basic materials company’s stock.

NSU has been the subject of a number of other reports. Zacks Investment Research raised Nevsun Resources from a hold rating to a buy rating and set a C$2.50 price target for the company in a report on Thursday, September 14th. Royal Bank Of Canada lifted their price target on Nevsun Resources from C$4.00 to C$5.00 in a report on Monday, October 30th. Canaccord Genuity lifted their price target on Nevsun Resources from C$3.25 to C$4.50 in a report on Monday, October 30th. TheStreet downgraded Nevsun Resources from a c rating to a d+ rating in a report on Thursday, August 10th. Finally, TD Securities raised Nevsun Resources from a hold rating to a buy rating and set a C$3.75 price target for the company in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of C$4.31.

Shares of Nevsun Resources (TSE:NSU) opened at C$2.98 on Tuesday. Nevsun Resources has a fifty-two week low of C$2.49 and a fifty-two week high of C$4.63.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. increased its position in Nevsun Resources by 14.9% during the 2nd quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company’s stock worth $25,893,000 after purchasing an additional 1,387,500 shares during the period. FIL Ltd increased its position in Nevsun Resources by 10.0% during the 2nd quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock worth $25,323,000 after purchasing an additional 949,823 shares during the period. Vanguard Group Inc. increased its position in Nevsun Resources by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company’s stock worth $14,142,000 after purchasing an additional 291,317 shares during the period. Schroder Investment Management Group increased its position in Nevsun Resources by 5.9% during the 3rd quarter. Schroder Investment Management Group now owns 2,291,699 shares of the basic materials company’s stock worth $6,234,000 after purchasing an additional 127,338 shares during the period. Finally, Royal Bank of Canada increased its position in Nevsun Resources by 505.7% during the 2nd quarter. Royal Bank of Canada now owns 980,600 shares of the basic materials company’s stock worth $2,364,000 after purchasing an additional 818,703 shares during the period.

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)

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