Nevsun Resources (NSU) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Nevsun Resources (NYSEAMERICAN:NSU) from a buy rating to a hold rating in a research report report published on Wednesday.

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. “

Separately, Macquarie raised shares of Nevsun Resources from a neutral rating to an outperform rating in a report on Monday, November 13th.

Nevsun Resources (NYSEAMERICAN NSU) traded down $0.04 during trading on Wednesday, reaching $2.39. 485,108 shares of the company were exchanged, compared to its average volume of 609,375. The company has a market cap of $721.90, a price-to-earnings ratio of -14.06 and a beta of 0.88. Nevsun Resources has a twelve month low of $1.96 and a twelve month high of $3.52.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, December 28th. Nevsun Resources’s payout ratio is -23.53%.

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

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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.

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