Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) – Research analysts at Cormark issued their FY2018 earnings estimates for shares of Nevsun Resources in a note issued to investors on Monday. Cormark analyst S. Ioannou anticipates that the basic materials company will earn $0.08 per share for the year. Cormark also issued estimates for Nevsun Resources’ FY2019 earnings at $0.13 EPS, FY2020 earnings at $0.02 EPS, FY2021 earnings at ($0.05) EPS and FY2022 earnings at $0.33 EPS.
A number of other equities research analysts have also recently commented on NSU. Eight Capital upgraded Nevsun Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$2.25 to C$4.25 in a research note on Monday, October 30th. Canaccord Genuity lifted their target price on Nevsun Resources from C$3.25 to C$4.50 in a research note on Monday, October 30th. Scotiabank reiterated an “outperform” rating and set a C$4.75 target price on shares of Nevsun Resources in a research note on Tuesday, November 14th. Macquarie upgraded Nevsun Resources from a “neutral” rating to an “outperform” rating in a research note on Monday, November 13th. Finally, TD Securities upgraded Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.75 target price on the stock in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$4.31.
Shares of Nevsun Resources (TSE:NSU) traded down C$0.06 during trading hours on Tuesday, reaching C$2.77. The company’s stock had a trading volume of 361,144 shares, compared to its average volume of 741,568. Nevsun Resources has a fifty-two week low of C$2.49 and a fifty-two week high of C$4.09. The company has a market cap of $855.26, a PE ratio of -12.50 and a beta of 0.36.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, December 29th were issued a $0.013 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.05 annualized dividend and a yield of 1.88%. This is a positive change from Nevsun Resources’s previous quarterly dividend of $0.01. Nevsun Resources’s dividend payout ratio (DPR) is -31.82%.
In other news, Director David Smith acquired 20,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was bought at an average price of C$2.77 per share, with a total value of C$56,785.00.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Nevsun Resources by 505.7% in the 2nd quarter. Royal Bank of Canada now owns 980,600 shares of the basic materials company’s stock worth $2,364,000 after acquiring an additional 818,703 shares during the last quarter. Vanguard Group Inc. increased its holdings in Nevsun Resources by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company’s stock worth $14,142,000 after acquiring an additional 291,317 shares during the last quarter. Global X MANAGEMENT CO LLC increased its holdings in Nevsun Resources by 34.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 677,324 shares of the basic materials company’s stock worth $1,462,000 after acquiring an additional 173,800 shares during the last quarter. Schroder Investment Management Group increased its holdings in Nevsun Resources by 5.9% in the 3rd quarter. Schroder Investment Management Group now owns 2,291,699 shares of the basic materials company’s stock worth $6,234,000 after acquiring an additional 127,338 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Nevsun Resources by 1,040.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 388,286 shares of the basic materials company’s stock worth $838,000 after acquiring an additional 354,252 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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