Nevsun Resources (NYSEAMERICAN:NSU) – Research analysts at Haywood Securities reduced their FY2017 earnings per share estimates for shares of Nevsun Resources in a report issued on Wednesday, according to Zacks Investment Research. Haywood Securities analyst P. Vaillancourt now forecasts that the company will earn ($0.13) per share for the year, down from their prior forecast of ($0.10).
A number of other equities analysts also recently weighed in on NSU. Zacks Investment Research raised shares of Nevsun Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 18th. Macquarie raised shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a report on Monday, November 13th. Finally, Raymond James Financial reissued a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday, August 15th.
Nevsun Resources (NSU) traded down $0.08 during trading on Monday, reaching $2.20. 1,241,916 shares of the company traded hands, compared to its average volume of 893,756. Nevsun Resources has a 12-month low of $1.96 and a 12-month high of $3.52.
A hedge fund recently raised its stake in Nevsun Resources stock. Allianz Asset Management GmbH increased its stake in Nevsun Resources (NYSEAMERICAN:NSU) by 2,773.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 390,000 shares of the company’s stock after acquiring an additional 376,427 shares during the quarter. Allianz Asset Management GmbH owned about 0.13% of Nevsun Resources worth $842,000 at the end of the most recent reporting period.
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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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