Macquarie upgraded shares of Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) from a neutral rating to an outperform rating in a research note released on Monday.

Several other analysts also recently issued reports on NSU. Eight Capital upgraded Nevsun Resources from a neutral rating to a buy rating and boosted their price objective for the stock from C$2.25 to C$4.25 in a report on Monday, October 30th. TheStreet downgraded Nevsun Resources from a c rating to a d+ rating in a report on Thursday, August 10th. Raymond James Financial, Inc. restated a mkt perform rating on shares of Nevsun Resources in a report on Tuesday, August 15th. TD Securities downgraded Nevsun Resources from a buy rating to a hold rating and cut their price objective for the stock from C$5.00 to C$4.00 in a report on Thursday, August 10th. Finally, Royal Bank Of Canada downgraded Nevsun Resources from an outperform rating to a sector perform rating and cut their price objective for the stock from C$5.50 to C$4.00 in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of C$4.31.

Shares of Nevsun Resources (TSE:NSU) traded up C$0.13 during trading on Monday, reaching C$3.13. 765,173 shares of the company’s stock traded hands, compared to its average volume of 692,578. Nevsun Resources has a 12-month low of C$2.49 and a 12-month high of C$4.63.

ILLEGAL ACTIVITY WARNING: This report was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.dailypolitical.com/2017/11/14/nevsun-resources-nsu-upgraded-to-outperform-by-macquarie.html.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.04 annualized dividend and a yield of 1.28%. Nevsun Resources’s dividend payout ratio (DPR) is presently -31.82%.

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

A number of large investors have recently added to or reduced their stakes in NSU. Franklin Resources Inc. grew its stake in Nevsun Resources by 14.9% during the 2nd quarter. Franklin Resources Inc. now owns 10,722,600 shares of the basic materials company’s stock valued at $25,893,000 after acquiring an additional 1,387,500 shares in the last quarter. FIL Ltd grew its stake in Nevsun Resources by 10.0% during the 2nd quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock valued at $25,323,000 after acquiring an additional 949,823 shares in the last quarter. Royal Bank of Canada grew its stake in Nevsun Resources by 505.7% during the 2nd quarter. Royal Bank of Canada now owns 980,600 shares of the basic materials company’s stock valued at $2,364,000 after acquiring an additional 818,703 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nevsun Resources by 1,040.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 388,286 shares of the basic materials company’s stock valued at $838,000 after acquiring an additional 354,252 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in Nevsun Resources during the 2nd quarter valued at about $811,000.

Nevsun Resources Company Profile

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.