Nevsun Resources (TSE:NSU) Director Gary Edward German sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of C$3.72, for a total transaction of C$74,400.00.
Nevsun Resources (TSE:NSU) opened at 3.84 on Friday. The stock has a market cap of $1.15 billion and a PE ratio of 47.41. The firm has a 50-day moving average of $4.09 and a 200-day moving average of $4.16. Nevsun Resources has a 1-year low of $3.27 and a 1-year high of $4.81.
The business 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 dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, September 28th.
Several research firms have recently issued reports on NSU. Royal Bank Of Canada reissued an “outperform” rating and issued a C$6.50 price target on shares of Nevsun Resources in a research report on Friday, July 22nd. TD Securities reissued a “buy” rating and issued a C$5.50 price target on shares of Nevsun Resources in a research report on Monday, June 20th. Scotiabank reissued a “sector perform” rating and issued a C$5.00 price target on shares of Nevsun Resources in a research report on Wednesday, August 17th. Zacks Investment Research raised shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.00 price target on the stock in a research report on Thursday. Finally, Dundee Securities upped their target price on shares of Nevsun Resources from C$6.25 to C$7.00 in a report on Monday, June 20th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Nevsun Resources presently has a consensus rating of “Buy” and an average price target of C$5.31.
Several hedge funds have recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new stake in shares of Nevsun Resources during the second quarter worth about $2,387,000. AGF Investments Inc. increased its stake in shares of Nevsun Resources by 37,151.9% in the second quarter. AGF Investments Inc. now owns 850,462 shares of the company’s stock worth $2,494,000 after buying an additional 848,179 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nevsun Resources by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 160,192 shares of the company’s stock worth $467,000 after buying an additional 12,600 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Nevsun Resources by 28.9% in the second quarter. Bank of New York Mellon Corp now owns 317,012 shares of the company’s stock worth $932,000 after buying an additional 70,987 shares during the last quarter. Finally, First New York Securities LLC NY bought a new stake in shares of Nevsun Resources during the second quarter worth about $319,000.
Nevsun Resources Company Profile
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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