Bank of Montreal Can Reduces Position in Nevsun Resources (NSU)

Bank of Montreal Can lessened its holdings in shares of Nevsun Resources (NYSEAMERICAN:NSU) by 23.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 897,015 shares of the company’s stock after selling 273,238 shares during the period. Bank of Montreal Can’s holdings in Nevsun Resources were worth $3,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in shares of Nevsun Resources by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,801,200 shares of the company’s stock valued at $6,252,000 after buying an additional 28,400 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Nevsun Resources by 31.7% in the 1st quarter. Allianz Asset Management GmbH now owns 884,576 shares of the company’s stock valued at $2,106,000 after buying an additional 213,088 shares during the period. Millennium Management LLC grew its stake in shares of Nevsun Resources by 77.9% in the 1st quarter. Millennium Management LLC now owns 864,860 shares of the company’s stock valued at $2,058,000 after buying an additional 378,756 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Nevsun Resources in the 2nd quarter valued at approximately $2,764,000. Finally, Bank of Nova Scotia grew its stake in shares of Nevsun Resources by 1,084.4% in the 2nd quarter. Bank of Nova Scotia now owns 594,991 shares of the company’s stock valued at $2,053,000 after buying an additional 544,755 shares during the period.

NSU has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Nevsun Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, October 11th. Scotiabank lowered shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, September 7th. TheStreet upgraded shares of Nevsun Resources from a “d+” rating to a “c-” rating in a report on Tuesday, July 31st. Finally, Canaccord Genuity lowered shares of Nevsun Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Nevsun Resources presently has an average rating of “Hold” and a consensus target price of $2.75.

Shares of NSU stock opened at $4.48 on Friday. Nevsun Resources has a one year low of $2.00 and a one year high of $4.53.

Nevsun Resources (NYSEAMERICAN:NSU) last issued its quarterly earnings data on Thursday, October 25th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The firm had revenue of $71.61 million for the quarter.

Nevsun Resources 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 Timok project, a copper-gold development project in Serbia; and Bisha copper- zinc mine in Eritrea.

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Institutional Ownership by Quarter for Nevsun Resources (NYSEAMERICAN:NSU)

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