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

Nevsun Resources (NYSEAMERICAN:NSU) was the recipient of a significant decline in short interest in December. As of December 29th, there was short interest totalling 2,408,292 shares, a decline of 4.3% from the December 15th total of 2,515,954 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 598,657 shares, the short-interest ratio is presently 4.0 days.

Nevsun Resources (NSU) traded down $0.13 on Friday, reaching $2.02. 1,268,298 shares of the company’s stock traded hands, compared to its average volume of 733,965. The company has a market capitalization of $701.73, a P/E ratio of -12.65 and a beta of 0.88. Nevsun Resources has a 12-month low of $1.96 and a 12-month high of $3.27.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, December 28th. Nevsun Resources’s payout ratio is presently -23.53%.

Several large investors have recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in shares of Nevsun Resources during the fourth quarter worth about $1,322,000. Bank of Montreal Can increased its position in shares of Nevsun Resources by 7.7% during the fourth quarter. Bank of Montreal Can now owns 1,542,439 shares of the company’s stock worth $3,764,000 after acquiring an additional 109,936 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Nevsun Resources by 2,773.4% during the third quarter. Allianz Asset Management GmbH now owns 390,000 shares of the company’s stock worth $842,000 after acquiring an additional 376,427 shares in the last quarter.

Several equities research analysts have weighed in on NSU shares. Zacks Investment Research raised shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research note on Wednesday, January 3rd. Macquarie raised shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research note 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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