Scotiabank Reaffirms Outperform Rating for Nevsun Resources (NSU)

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU)‘s stock had its “outperform” rating restated by analysts at Scotiabank in a research note issued to investors on Tuesday. They presently have a C$4.75 target price on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 51.76% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Macquarie upgraded shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday. Canaccord Genuity lifted their target price on shares of Nevsun Resources from C$3.25 to C$4.50 in a research report on Monday, October 30th. Eight Capital upgraded shares of Nevsun Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$2.25 to C$4.25 in a research report on Monday, October 30th. Royal Bank Of Canada lifted their target price on shares of Nevsun Resources from C$4.00 to C$5.00 in a research report on Monday, October 30th. Finally, TD Securities upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.75 target price on the stock in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of C$4.31.

Nevsun Resources (TSE:NSU) traded up C$0.13 during trading hours on Tuesday, reaching C$3.13. 765,173 shares of the company traded hands, compared to its average volume of 692,578. Nevsun Resources has a twelve month low of C$2.49 and a twelve month high of C$4.63.

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In related news, insider Peter Gerald Jan Kukielski acquired 105,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average price of C$2.62 per share, for a total transaction of C$275,100.00. Also, insider Scott Trebilcock acquired 40,000 shares of the stock in a transaction dated Friday, August 25th. The stock was bought at an average price of C$2.82 per share, with a total value of C$112,800.00.

Several large investors have recently added to or reduced their stakes in NSU. Vanguard Group Inc. increased its stake in shares of Nevsun Resources by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,576,489 shares of the basic materials company’s stock valued at $14,276,000 after acquiring an additional 292,766 shares in the last quarter. Aperio Group LLC increased its stake in shares of Nevsun Resources by 2.7% in the 2nd quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock valued at $395,000 after acquiring an additional 4,332 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Nevsun Resources by 36.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 232,720 shares of the basic materials company’s stock valued at $561,000 after acquiring an additional 62,720 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of Nevsun Resources in the 2nd quarter valued at $811,000. Finally, Swiss National Bank increased its stake in shares of Nevsun Resources by 6.1% in the 2nd quarter. Swiss National Bank now owns 523,000 shares of the basic materials company’s stock valued at $1,263,000 after acquiring an additional 30,300 shares in 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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