Nevsun Resources (NYSEAMERICAN:NSU) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,191,217 shares, a growth of 7.3% from the February 28th total of 2,974,614 shares. Based on an average daily trading volume, of 725,496 shares, the days-to-cover ratio is currently 4.4 days. Currently, 1.1% of the shares of the company are sold short.
Shares of NSU stock opened at $2.25 on Tuesday. Nevsun Resources has a fifty-two week low of $1.96 and a fifty-two week high of $2.77. The firm has a market capitalization of $737.59, a P/E ratio of -8.04 and a beta of 0.63.
Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in shares of Nevsun Resources by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 11,682,600 shares of the company’s stock worth $28,438,000 after purchasing an additional 215,000 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Nevsun Resources by 7.7% during the 4th quarter. Bank of Montreal Can now owns 1,542,439 shares of the company’s stock worth $3,764,000 after buying an additional 109,936 shares during the period. Deutsche Bank AG lifted its position in shares of Nevsun Resources by 39.6% during the 4th quarter. Deutsche Bank AG now owns 1,365,377 shares of the company’s stock worth $3,331,000 after buying an additional 387,003 shares during the period. Mackenzie Financial Corp bought a new position in shares of Nevsun Resources during the 4th quarter worth approximately $2,696,000. Finally, Raffles Associates LP lifted its position in shares of Nevsun Resources by 10.2% during the 4th quarter. Raffles Associates LP now owns 1,077,800 shares of the company’s stock worth $2,630,000 after buying an additional 100,000 shares during the period.
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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