By Mark Watkins,
NEVSUN Resources (NYSE:NSU) was upgraded by Zacks from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “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.“
A number of other analysts have also recently weighed in on NSU. Analysts at Canaccord Genuity downgraded shares of Nevsun Resources from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Separately, analysts at Scotiabank reiterated a “sector perform” rating on shares of Nevsun Resources in a research note on Tuesday, March 24th.
Nevsun Resources (NYSE:NSU) traded down 0.94% on Wednesday, hitting $4.22. The stock had a trading volume of 83,895 shares. Nevsun Resources has a 52 week low of $3.17 and a 52 week high of $4.51. The stock’s 50-day moving average is $4. and its 200-day moving average is $3.. The company has a market cap of $842.55 million and a price-to-earnings ratio of 9.40.
Nevsun Resources (NYSE:NSU) last released its earnings data on Thursday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $117.20 million for the quarter, compared to the consensus estimate of $108.12 million. Analysts expect that Nevsun Resources will post $0.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Friday, June 26th.
Nevsun Resources Ltd. (NYSE:NSU) is a Canada-based mineral company. The Company is engaged in the production and sale of metals from its Bisha Mine in Eritrea, northeast Africa. Nevsun is a 60% shareholder in Bisha Mining Share Company (BMSC), which owns and operates the Bisha Mine.