Nevsun Resources (NSU) Receives BUY Ratings and C$5.50 Target Price

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nevsun buy ratings
Shares of Nevsun Resources went up 2.15% during trading on Friday, reaching $3.80, following the company’s Q3 2016 financial and operating results and analysts positive ratings. NSU continues to generate earnings and cash flow since 2010.

By ABMN Staff,

Nevsun Resources (TSE:NSU)‘s stock had its “buy” rating reiterated by stock analysts at TD Securities in a note issued to investors on Friday. They currently have a C$5.50 target price on the stock. TD Securities’ price objective points to a potential upside of 44.74% from the stock’s current price.

NSU has been the topic of several other reports. Zacks Investment Research raised shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.50 target price on the stock in a report on Thursday, August 25th.

Scotiabank reissued a “sector perform” rating and issued a C$5.00 target price on shares of Nevsun Resources in a report on Friday, September 30th.

Royal Bank Of Canada reissued an “outperform” rating and issued a C$6.50 target price on shares of Nevsun Resources in a report on Friday, July 22nd.

Raymond James Financial Inc. decreased their target price on shares of Nevsun Resources from C$5.00 to C$4.50 and set a “market perform” rating on the stock in a report on Wednesday, October 5th.

Finally, Canaccord Genuity reissued a “buy” rating on shares of Nevsun Resources in a report on Wednesday, September 14th.

Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Nevsun Resources has an average rating of “Buy” and an average target price of C$5.19.

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>> ALSO READ : Nevsun Resources Q3 2016 Earnings Conference Call Transcript
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Shares of Nevsun Resources (TSE:NSU) traded up 2.15% during trading on Friday, reaching $3.80. 1,064,603 shares of the company traded hands. The firm has a market capitalization of $1.14 billion and a price-to-earnings ratio of 46.91.

Nevsun Resources has a 12-month low of $3.27 and a 12-month high of $4.81. The company has a 50 day moving average price of $3.96 and a 200 day moving average price of $4.11.

Nevsun Resources (TSE:NSU) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business earned $22.90 million during the quarter, compared to analyst estimates of $22.50 million. On average, equities analysts predict that Nevsun Resources will post $0.10 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Wednesday, September 28th.

Nevsun Resources Company Profile

Nevsun Resources Ltd. is a mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. The Company’s segment is the mining business in Africa. The Company’s principal property is the Bisha Property in Eritrea which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.