Nevsun Resources (TSE:NSU) (TSE:NSU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a C$2.50 price target on the basic materials company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.28% from the stock’s previous close.

According to Zacks, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa. “

Other research analysts have also issued research reports about the company. Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Nevsun Resources in a research report on Tuesday, August 15th. BMO Capital Markets lowered Nevsun Resources from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$4.00 to C$3.25 in a research report on Wednesday, August 16th. Scotiabank raised Nevsun Resources from a “sector perform” rating to an “outperform” rating and set a C$3.50 price objective for the company in a research report on Friday, September 8th. Royal Bank Of Canada lowered Nevsun Resources from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$5.50 to C$4.00 in a research report on Friday, August 11th. Finally, Eight Capital reaffirmed a “neutral” rating on shares of Nevsun Resources in a research report on Thursday, August 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of C$4.13.

Nevsun Resources (TSE NSU) opened at 2.62 on Thursday. Nevsun Resources has a 12 month low of $2.49 and a 12 month high of $4.63. The stock’s market cap is $791.47 million. The company’s 50 day moving average price is $2.84 and its 200 day moving average price is $3.13.

COPYRIGHT VIOLATION NOTICE: “Nevsun Resources (NSU) Rating Increased to Buy at Zacks Investment Research” was reported by Daily Political and is owned by of Daily Political. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.dailypolitical.com/2017/09/15/nevsun-resources-nsu-rating-increased-to-buy-at-zacks-investment-research-2.html.

In other Nevsun Resources news, insider Scott Trebilcock bought 40,000 shares of Nevsun Resources stock in a transaction on Friday, August 25th. The stock was acquired at an average price of C$2.82 per share, with a total value of C$112,800.00. Also, insider Peter Gerald Jan Kukielski bought 105,000 shares of Nevsun Resources stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average cost of C$2.62 per share, with a total value of C$275,100.00.

Several institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Nevsun Resources by 14.9% in the 2nd quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company’s stock worth $25,893,000 after purchasing an additional 1,387,500 shares in the last quarter. FIL Ltd increased its holdings in shares of Nevsun Resources by 10.0% in the 2nd quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock worth $25,323,000 after purchasing an additional 949,823 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Nevsun Resources by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company’s stock worth $14,142,000 after purchasing an additional 291,317 shares in the last quarter. Sprott Inc. increased its holdings in shares of Nevsun Resources by 0.4% in the 2nd quarter. Sprott Inc. now owns 3,431,806 shares of the basic materials company’s stock worth $8,271,000 after purchasing an additional 14,055 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Nevsun Resources by 1,523.6% in the 1st quarter. Wells Fargo & Company MN now owns 2,827,905 shares of the basic materials company’s stock worth $7,240,000 after purchasing an additional 2,653,735 shares in the last quarter.

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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

Receive News & Ratings for Nevsun Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevsun Resources and related companies with MarketBeat.com's FREE daily email newsletter.