Nevsun Resources (NYSEAMERICAN:NSU)’s share price dropped 1.3% during trading on Friday . The company traded as low as $2.28 and last traded at $2.36. Approximately 380,224 shares traded hands during trading, a decline of 49% from the average daily volume of 748,799 shares. The stock had previously closed at $2.33.
Separately, Zacks Investment Research raised shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research report on Wednesday, January 3rd.
The company has a market capitalization of $737.59, a PE ratio of -8.43 and a beta of 0.63.
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About Nevsun Resources
Nevsun Resources Ltd. is a base metals company. The Company’s two principal properties are the Timok Project in Serbia, which hosts the copper-gold Cukaru Peki deposit on the Brestovac-Metovnica Exploration Permit (the B-M Permit) and the Bisha Property in Eritrea, which hosts the copper-zinc-gold Bisha deposit and includes satellite volcanogenic massive sulphides (VMS) deposits at Harena, Northwest, Hambok and Asheli.
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