Nevsun Resources Ltd (NYSE: NSU) Posts Large Volume Increase, Hits $5.55

Development News

Shares of Nevsun Resources Ltd (NYSE: NSU) saw unusually high trading volume on Monday. Approximately 1,289,741 shares changed hands during mid-day trading, an increase of 50.78% from the previous session. The stock last traded at $5.55.

Nevsun Resources Ltd. and its subsidiaries are in the mineral property exploration and development business in Africa. The principal business of the Company is the development of the Bisha Project in Eritrea, located in northeast Africa. The Company conducted drill test in the southwest strike extension of Harena, which displays similar gravity and EM signatures to Harena.             

Nevsun Resources Ltd (NYSE: NSU) traded down 4.93% during mid-day trading on Monday. The stock has a 52 week low of $1.85 and a 52 week high of $7.75. Its 50-day moving average is $6.88 and its 200-day moving average is $5.30. The company has a market cap of $1.082 billion and a price-to-earnings ratio of N/A.