Raymond James Financial Weighs in on Nevsun Resources’ Q1 2017 Earnings (NSU)
Nevsun Resources (TSE:NSU) – Equities research analysts at Raymond James Financial lowered their Q1 2017 EPS estimates for shares of Nevsun Resources in a report released on Thursday. Raymond James Financial analyst A. Terentiew now expects that the brokerage will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.04. Raymond James Financial currently has a “Market Perform” rating and a $4.50 price target on the stock.
Other analysts have also issued research reports about the company. Dundee Securities upped their price objective on Nevsun Resources from C$6.25 to C$7.00 in a research report on Monday, June 20th. TD Securities reissued a “buy” rating and issued a C$5.50 target price on shares of Nevsun Resources 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 target price on the stock in a report on Thursday, August 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a C$6.50 target price on shares of Nevsun Resources in a report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of C$5.31.
Nevsun Resources (TSE:NSU) remained flat at $3.60 during trading on Friday. 413,953 shares of the stock traded hands. The firm has a market cap of $1.08 billion and a price-to-earnings ratio of 44.44. Nevsun Resources has a 1-year low of $3.27 and a 1-year high of $4.81. The firm’s 50 day moving average is $4.06 and its 200-day moving average is $4.14.
Several large investors have recently made changes to their positions in NSU. Barclays PLC increased its stake in shares of Nevsun Resources by 16.7% in the second quarter. Barclays PLC now owns 35,000 shares of the company’s stock valued at $103,000 after buying an additional 5,000 shares during the period. 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 valued at $467,000 after buying an additional 12,600 shares during the period. TFS Capital LLC increased its stake in shares of Nevsun Resources by 51.3% in the second quarter. TFS Capital LLC now owns 38,466 shares of the company’s stock valued at $113,000 after buying an additional 13,041 shares during the period. 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 valued at $375,000 after buying an additional 14,740 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Nevsun Resources by 8.1% in the second quarter. Alliancebernstein L.P. now owns 197,803 shares of the company’s stock valued at $582,000 after buying an additional 14,890 shares during the period.
In other news, Director Gary Edward German sold 20,000 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of C$3.72, for a total transaction of C$74,400.00. Also, insider Thomas S. Whelan bought 50,000 shares of the firm’s stock in a transaction dated 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.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 annualized dividend and a yield of 4.44%.
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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