Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) – Investment analysts at Cormark boosted their FY2018 earnings estimates for shares of Nevsun Resources in a research note issued to investors on Monday, April 2nd. Cormark analyst S. Ioannou now anticipates that the basic materials company will post earnings per share of $0.09 for the year, up from their previous forecast of $0.08. Cormark also issued estimates for Nevsun Resources’ FY2019 earnings at $0.13 EPS and FY2020 earnings at $0.03 EPS.
Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) last issued its quarterly earnings results on Thursday, March 1st. The basic materials company reported C($0.01) earnings per share (EPS) for the quarter. The business had revenue of C$102.36 million for the quarter. Nevsun Resources had a negative return on equity of 18.80% and a negative net margin of 43.87%.
Separately, Scotiabank set a C$4.75 price target on shares of Nevsun Resources and gave the stock an “outperform” rating in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of C$4.00.
Shares of TSE:NSU opened at C$3.14 on Thursday. Nevsun Resources has a 1 year low of C$2.49 and a 1 year high of C$3.50.
An institutional investor recently raised its position in Nevsun Resources stock. Schroder Investment Management Group increased its position in shares of Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,291,699 shares of the basic materials company’s stock after buying an additional 127,338 shares during the period. Schroder Investment Management Group owned about 0.76% of Nevsun Resources worth $6,234,000 at the end of the most recent reporting period.
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Nevsun Resources Company Profile
Nevsun Resources Ltd. engages in the mining and development of mineral properties in Europe, Africa, and North America. It explores for gold, copper, zinc, and silver deposits. The company's principal assets include its 100% interest in the upper zone and 60.4% interest in the lower zone of the Timok project, a copper-gold development project in Serbia; and its 60% owned Bisha copper- zinc mine in Eritrea.
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