FY2018 Earnings Estimate for Nevsun Resources Issued By Cormark (TSE:NSU)

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) – Stock analysts at Cormark issued their FY2018 EPS estimates for Nevsun Resources in a research report issued on Monday, Zacks Investment Research reports. Cormark analyst S. Ioannou anticipates that the basic materials company will post earnings of $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 analysts also recently weighed in on NSU. Eight Capital raised shares of Nevsun Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from C$2.25 to C$4.25 in a research note on Monday, October 30th. Canaccord Genuity raised their target price on shares of Nevsun Resources from C$3.25 to C$4.50 in a research note on Monday, October 30th. Scotiabank reissued an “outperform” rating and issued a C$4.75 target price on shares of Nevsun Resources in a research note on Tuesday, November 14th. Macquarie raised shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research note on Monday, November 13th. Finally, TD Securities raised shares of 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$4.31.

Shares of Nevsun Resources (TSE:NSU) remained flat at $C$2.78 on Tuesday. 438,238 shares of the company traded hands, compared to its average volume of 753,363. The firm has a market cap of $840.15, a PE ratio of -12.55 and a beta of 0.36. Nevsun Resources has a 12-month low of C$2.49 and a 12-month high of C$3.99.

A number of hedge funds have recently made changes to their positions in the business. Schroder Investment Management Group grew its holdings in Nevsun Resources by 5.9% during 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nevsun Resources by 1,040.9% during 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 in the last quarter. Global X MANAGEMENT CO LLC grew its holdings in Nevsun Resources by 34.5% during 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 in the last quarter. Shell Asset Management Co. grew its holdings in Nevsun Resources by 87.7% during the 3rd quarter. Shell Asset Management Co. now owns 47,620 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 22,248 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in Nevsun Resources by 88.5% during the 2nd quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 42,987 shares in the last quarter.

In other news, Director David Smith purchased 20,500 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was acquired at an average cost of C$2.77 per share, with a total value of C$56,785.00.

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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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Earnings History and Estimates for Nevsun Resources (TSE:NSU)

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