Swiss National Bank increased its stake in shares of Nevsun Resources (NYSEAMERICAN:NSU) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 535,800 shares of the company’s stock after acquiring an additional 12,800 shares during the period. Swiss National Bank owned about 0.18% of Nevsun Resources worth $2,368,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Nevsun Resources by 140.0% during the second quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock worth $142,000 after acquiring an additional 23,835 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Nevsun Resources by 1.6% during the second quarter. Renaissance Technologies LLC now owns 1,801,200 shares of the company’s stock worth $6,252,000 after acquiring an additional 28,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Nevsun Resources in the second quarter valued at approximately $237,000. ARP Americas LP bought a new stake in Nevsun Resources in the third quarter valued at approximately $832,000. Finally, Kassirer Asset Management Corp bought a new stake in Nevsun Resources in the third quarter valued at approximately $1,556,000.
NSU has been the topic of several research analyst reports. Zacks Investment Research upgraded Nevsun Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 11th. Scotiabank lowered Nevsun Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, September 7th. Finally, Canaccord Genuity downgraded Nevsun Resources from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th.
NYSEAMERICAN NSU opened at $4.50 on Wednesday. Nevsun Resources has a fifty-two week low of $2.00 and a fifty-two week high of $4.54.
Nevsun Resources (NYSEAMERICAN:NSU) last released its earnings results on Thursday, October 25th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $71.61 million during the quarter.
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About Nevsun Resources
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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