Short Interest in Nevsun Resources (NSU) Drops By 4.3%

Nevsun Resources (NYSEAMERICAN:NSU) was the target of a large decrease in short interest during the month of December. As of December 29th, there was short interest totalling 2,408,292 shares, a decrease of 4.3% from the December 15th total of 2,515,954 shares. Based on an average daily volume of 598,657 shares, the short-interest ratio is currently 4.0 days. Currently, 0.8% of the shares of the stock are short sold.

Shares of Nevsun Resources (NSU) opened at $2.53 on Thursday. The stock has a market cap of $749.78, a PE ratio of -14.88 and a beta of 0.88. Nevsun Resources has a 1 year low of $1.96 and a 1 year high of $3.52.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, December 28th. Nevsun Resources’s dividend payout ratio is -23.53%.

A hedge fund recently raised its stake in Nevsun Resources stock. Allianz Asset Management GmbH grew its holdings in shares of Nevsun Resources (NYSEAMERICAN:NSU) by 2,773.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 390,000 shares of the company’s stock after buying an additional 376,427 shares during the quarter. Allianz Asset Management GmbH owned 0.13% of Nevsun Resources worth $842,000 at the end of the most recent reporting period.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Nevsun Resources from a “buy” rating to a “hold” rating in a report on Wednesday. Macquarie raised shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a report on Monday, November 13th.

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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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