U S Global Investors Inc trimmed its position in Nevsun Resources (NYSEAMERICAN:NSU) by 50.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the company’s stock after selling 150,000 shares during the quarter. U S Global Investors Inc’s holdings in Nevsun Resources were worth $665,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Nevsun Resources by 140.0% in the second quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock worth $142,000 after buying an additional 23,835 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Nevsun Resources during the second quarter worth approximately $237,000. ARP Americas LP acquired a new stake in shares of Nevsun Resources during the third quarter worth approximately $832,000. Virtu Financial LLC boosted its holdings in shares of Nevsun Resources by 435.5% during the third quarter. Virtu Financial LLC now owns 171,528 shares of the company’s stock worth $871,000 after purchasing an additional 139,499 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Nevsun Resources by 2,628.4% during the third quarter. Alliancebernstein L.P. now owns 346,512 shares of the company’s stock worth $1,535,000 after purchasing an additional 333,812 shares during the period.
NSU has been the subject of several research reports. Canaccord Genuity cut shares of Nevsun Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded shares of Nevsun Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, October 11th. Finally, Scotiabank cut shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, September 7th.
NSU stock opened at $4.50 on Wednesday. Nevsun Resources has a 52 week low of $2.00 and a 52 week high of $4.54.
Nevsun Resources (NYSEAMERICAN:NSU) last posted its quarterly earnings data on Thursday, October 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $71.61 million during the quarter.
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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 Timok project, a copper-gold development project in Serbia; and Bisha copper- zinc mine in Eritrea.
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