November 28, 2016 - By Marie Mckinney
Scotia Capital currently has a $4.50 target price on the $1.26 billion market cap company or 6.38% upside potential. In an analyst report issued to investors and clients on 28 November, Nevsun Resources (TSE:NSU) stock had its “Sector Perform” Rating reaffirmed by equity research analysts at Scotia Capital.
Out of 7 analysts covering Nevsun Resources (TSE:NSU), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. $6.50 is the highest target while $4 is the lowest. The $5.14 average target is 20.37% above today’s ($4.27) stock price. Nevsun Resources has been the topic of 15 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Monday, October 24 by Canaccord Genuity. The stock has “Outperform” rating given by RBC Capital Markets on Friday, July 22. TD Securities maintained Nevsun Resources (TSE:NSU) rating on Friday, July 29. TD Securities has “Buy” rating and $5.50 price target. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, December 2 report. Scotia Capital maintained Nevsun Resources (TSE:NSU) on Friday, August 19 with “Sector Perform” rating. TD Securities maintained Nevsun Resources (TSE:NSU) on Friday, October 28 with “Buy” rating. On Friday, January 15 the stock rating was maintained by RBC Capital Markets with “Sector Perform”.
About 466,290 shares traded hands. Nevsun Resources (TSE:NSU) has declined 6.81% since April 22, 2016 and is downtrending. It has underperformed by 12.82% the S&P500.
Analysts await Nevsun Resources (USA) (NYSEMKT:NSU) to report earnings on February, 23.
Nevsun Resources Ltd is a Canada-based base metals mining company. The company has a market cap of $1.26 billion. The Firm is engaged in the acquisition, exploration, development and operation of mineral property interests. It has a 36.98 P/E ratio. The Company’s segment is the mining business in Africa.
According to Zacks Investment Research, “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.”
More notable recent Nevsun Resources (TSE:NSU) news were published by: Seekingalpha.com which released: “Will Lundin Mining Acquire Nevsun Resources?” on November 28, 2016, also Qz.com with their article: “Eritrean workers are suing a Canadian mining company for using them as forced …” published on September 29, 2016, Seekingalpha.com published: “Nevsun Resources – Strong Quarterly Earnings Shows Continued Strength” on November 17, 2016. More interesting news about Nevsun Resources (TSE:NSU) were released by: Seekingalpha.com and their article: “Nevsun Resources: I Was Not Expecting This” published on October 18, 2016 as well as Fool.com‘s news article titled: “Why Ariad Pharmaceuticals, Nevsun Resources, and Ctrip.com International …” with publication date: June 17, 2016.
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