Bank of New York Mellon Corp Has $1,719,000 Stake in Nevsun Resources (NSU)
Bank of New York Mellon Corp maintained its position in shares of Nevsun Resources (TSE:NSU) (TSE:NSU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 671,359 shares of the basic materials company’s stock at the end of the first quarter. Bank of New York Mellon Corp owned approximately 0.22% of Nevsun Resources worth $1,719,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Integrated Investment Consultants LLC purchased a new position in shares of Nevsun Resources during the first quarter valued at approximately $125,000. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Nevsun Resources during the first quarter valued at approximately $154,000. Hexavest Inc. increased its position in shares of Nevsun Resources by 3.6% in the first quarter. Hexavest Inc. now owns 1,782,297 shares of the basic materials company’s stock valued at $4,571,000 after buying an additional 62,411 shares during the period. Wells Fargo & Company MN increased its position in shares of Nevsun Resources by 1,523.6% in the first quarter. Wells Fargo & Company MN now owns 2,827,905 shares of the basic materials company’s stock valued at $7,240,000 after buying an additional 2,653,735 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Nevsun Resources by 51.4% in the first quarter. Jennison Associates LLC now owns 5,437,404 shares of the basic materials company’s stock valued at $13,964,000 after buying an additional 1,845,017 shares during the period.
Nevsun Resources (NSU) opened at 3.08 on Friday. Nevsun Resources has a 12-month low of $2.83 and a 12-month high of $4.63. The stock’s 50 day moving average is $3.15 and its 200 day moving average is $3.49. The company has a market cap of $930.08 million and a P/E ratio of 440.00.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Stockholders of record on Friday, June 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Wednesday, June 28th.
Several brokerages recently commented on NSU. Royal Bank Of Canada reiterated an “outperform” rating on shares of Nevsun Resources in a report on Monday, April 24th. TD Securities dropped their target price on shares of Nevsun Resources from C$5.50 to C$5.00 and set a “buy” rating on the stock in a report on Friday, April 28th. Finally, Scotiabank reiterated a “sector perform” rating and issued a C$4.25 target price on shares of Nevsun Resources in a report on Friday, April 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Nevsun Resources presently has an average rating of “Buy” and an average price target of C$4.69.
In related news, Director Anne Elizabeth Giardini acquired 46,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were bought at an average cost of C$3.15 per share, with a total value of C$144,900.00. Also, insider Joseph Paul Giuffre acquired 10,000 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was bought at an average cost of C$2.92 per share, for a total transaction of C$29,200.00. Insiders bought 172,500 shares of company stock worth $536,295 over the last three months.
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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