Haywood Securities Weighs in on Nevsun Resources’ FY2018 Earnings (TSE:NSU)

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) – Analysts at Haywood Securities increased their FY2018 earnings per share estimates for Nevsun Resources in a note issued to investors on Wednesday, according to Zacks Investment Research. Haywood Securities analyst P. Vaillancourt now anticipates that the basic materials company will post earnings of $0.06 per share for the year, up from their previous estimate of $0.05.

NSU has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$2.50 price objective on the stock in a research report on Thursday, September 14th. Scotiabank restated an “outperform” rating and set a C$4.75 price objective on shares of Nevsun Resources in a research report on Tuesday, November 14th. Royal Bank Of Canada increased their price objective on shares of Nevsun Resources from C$4.00 to C$5.00 in a research report on Monday, October 30th. Canaccord Genuity increased their price objective on shares of Nevsun Resources from C$3.25 to C$4.50 in a research report on Monday, October 30th. Finally, Macquarie upgraded shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$4.31.

Shares of Nevsun Resources (TSE:NSU) traded down C$0.07 during trading on Friday, reaching C$2.91. 220,022 shares of the company were exchanged, compared to its average volume of 671,086. Nevsun Resources has a 12 month low of C$2.49 and a 12 month high of C$4.63.

Hedge funds have recently made changes to their positions in the business. K2 Principal Fund L.P. purchased a new stake in Nevsun Resources during the second quarter valued at approximately $169,000. Virtu KCG Holdings LLC increased its holdings in Nevsun Resources by 605.3% during the second quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock valued at $187,000 after buying an additional 66,465 shares during the last quarter. Shell Asset Management Co. increased its holdings in 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 buying an additional 22,248 shares during the last quarter. Bank of Nova Scotia increased its holdings in 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 buying an additional 42,987 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in 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 buying an additional 4,332 shares during the last quarter.

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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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Earnings History and Estimates for Nevsun Resources (TSE:NSU)

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