First New York Securities LLC NY acquired a new position in Nevsun Resources (TSE:NSU) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 108,400 shares of the company’s stock, valued at approximately $319,000.
Several other large investors have also modified their holdings of NSU. Aperio Group LLC increased its stake in shares of Nevsun Resources by 14.6% in the first quarter. Aperio Group LLC now owns 115,856 shares of the company’s stock worth $375,000 after buying an additional 14,740 shares in the last quarter. AXA increased its stake in Nevsun Resources by 8,478.9% in the first quarter. AXA now owns 163,000 shares of the company’s stock valued at $529,000 after buying an additional 161,100 shares during the period. Spark Investment Management LLC increased its stake in Nevsun Resources by 43.5% in the first quarter. Spark Investment Management LLC now owns 89,000 shares of the company’s stock valued at $287,000 after buying an additional 27,000 shares during the period. PCJ Investment Counsel Ltd. increased its stake in Nevsun Resources by 51.8% in the first quarter. PCJ Investment Counsel Ltd. now owns 341,623 shares of the company’s stock valued at $1,109,000 after buying an additional 116,623 shares during the period. Finally, FNY Managed Accounts LLC purchased a new stake in Nevsun Resources during the second quarter valued at $147,000.
Nevsun Resources (TSE:NSU) traded up 0.49% on Wednesday, hitting $4.11. The stock had a trading volume of 758,286 shares. The stock’s 50-day moving average is $4.16 and its 200-day moving average is $4.19. Nevsun Resources has a 52-week low of $3.27 and a 52-week high of $4.81. The company has a market cap of $1.23 billion and a P/E ratio of 50.74.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 3.89%.
Several research firms recently weighed in on NSU. Dundee Securities raised their price objective on Nevsun Resources from C$6.25 to C$7.00 in a report on Monday, June 20th. Canaccord Genuity reissued a “buy” rating on shares of Nevsun Resources in a report on Wednesday, September 14th. Zacks Investment Research raised Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.50 price objective on the stock in a report on Thursday, August 25th. Royal Bank Of Canada reissued an “outperform” rating and set a C$6.50 price objective on shares of Nevsun Resources in a report on Friday, July 22nd. Finally, TD Securities reissued a “buy” rating and set a C$5.50 price objective on shares of Nevsun Resources in a report on Monday, June 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$5.31.
In other news, insider Thomas S. Whelan bought 50,000 shares of Nevsun Resources stock in a transaction that occurred on Friday, September 2nd. The shares were acquired at an average price of C$4.10 per share, with a total value of C$205,000.00.
About Nevsun Resources
Nevsun Resources Ltd. is a mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. The Company’s segment is the mining business in Africa. The Company’s principal property is the Bisha Property which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.
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