Scotiabank reiterated their outperform rating on shares of Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) in a research report released on Tuesday morning. Scotiabank currently has a C$4.75 target price on the basic materials company’s stock.

A number of other research firms have also recently issued reports on NSU. Zacks Investment Research raised Nevsun Resources from a hold rating to a buy rating and set a C$2.50 price objective for the company in a research report on Thursday, September 7th. Raymond James Financial, Inc. reissued a mkt perform rating on shares of Nevsun Resources in a research report on Tuesday, August 15th. TheStreet cut Nevsun Resources from a c rating to a d+ rating in a research report on Thursday, August 10th. Royal Bank Of Canada cut 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, TD Securities cut Nevsun Resources from a buy rating to a hold rating and reduced their price objective for the company from C$5.00 to C$4.00 in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of C$4.31.

Shares of Nevsun Resources (NSU) opened at C$2.99 on Tuesday. Nevsun Resources has a 12-month low of C$2.49 and a 12-month high of C$4.63.

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

Several hedge funds and other institutional investors have recently bought and sold shares of NSU. Vanguard Group Inc. lifted its position in shares of Nevsun Resources by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 5,576,489 shares of the basic materials company’s stock worth $14,276,000 after purchasing an additional 292,766 shares during the last quarter. Aperio Group LLC lifted its position in shares of Nevsun Resources by 2.7% during the 2nd quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 4,332 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Nevsun Resources by 36.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 232,720 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 62,720 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of Nevsun Resources during the 2nd quarter worth about $811,000. Finally, Swiss National Bank lifted its position in shares of Nevsun Resources by 6.1% during the 2nd quarter. Swiss National Bank now owns 523,000 shares of the basic materials company’s stock worth $1,263,000 after purchasing an additional 30,300 shares during 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)

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