Insider Buying: Nevsun Resources (NSU) Director Purchases 46,000 Shares of Stock

Nevsun Resources (TSE:NSU) (TSE:NSU) Director Anne Elizabeth Giardini bought 46,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were acquired at an average price of C$3.15 per share, for a total transaction of C$144,900.00.

Anne Elizabeth Giardini also recently made the following trade(s):

  • On Thursday, May 11th, Anne Elizabeth Giardini bought 24,000 shares of Nevsun Resources stock. The shares were acquired at an average price of C$3.13 per share, for a total transaction of C$75,120.00.
  • On Tuesday, May 9th, Anne Elizabeth Giardini bought 30,000 shares of Nevsun Resources stock. The shares were acquired at an average price of C$3.09 per share, for a total transaction of C$92,700.00.

Shares of Nevsun Resources (TSE:NSU) opened at 3.37 on Friday. The stock has a market cap of $1.02 billion and a price-to-earnings ratio of 481.43. Nevsun Resources has a 1-year low of $2.83 and a 1-year high of $4.63. The company has a 50-day moving average price of $3.23 and a 200-day moving average price of $3.79.

Nevsun Resources (TSE:NSU) last released its quarterly earnings results on Thursday, February 23rd. The basic materials company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. The business had revenue of $36.19 million for the quarter. On average, equities analysts expect that Nevsun Resources will post $0.01 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Nevsun Resources (TSE:NSU)

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NSU has been the topic of a number of research reports. BMO Capital Markets initiated coverage on Nevsun Resources in a report on Wednesday, February 1st. They issued a “market perform” rating and a C$4.75 price target on the stock. Scotiabank lowered their price target on Nevsun Resources from C$5.00 to C$4.25 and set a “sector perform” rating on the stock in a report on Friday, February 24th. TD Securities lowered their price target on Nevsun Resources from C$6.00 to C$5.50 and set a “buy” rating on the stock in a report on Friday, February 24th. Canaccord Genuity upgraded Nevsun Resources from a “hold” rating to a “buy” rating in a report on Friday, February 24th. Finally, Royal Bank of Canada lowered their price target on Nevsun Resources from C$6.50 to C$5.50 and set an “outperform (spec)” rating on the stock in a report on Monday, February 27th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Nevsun Resources has an average rating of “Buy” and a consensus price target of C$4.97.

A number of institutional investors have recently added to or reduced their stakes in NSU. Sprott Inc. raised its position in Nevsun Resources by 298.1% in the third quarter. Sprott Inc. now owns 10,469,054 shares of the basic materials company’s stock worth $31,721,000 after buying an additional 7,839,628 shares during the period. FIL Ltd raised its position in Nevsun Resources by 75.8% in the first quarter. FIL Ltd now owns 9,542,826 shares of the basic materials company’s stock worth $24,536,000 after buying an additional 4,113,409 shares during the period. Wells Fargo & Company MN raised its position in Nevsun Resources by 1,523.6% in the first quarter. Wells Fargo & Company MN now owns 2,827,905 shares of the basic materials company’s stock worth $7,240,000 after buying an additional 2,653,735 shares during the period. Jennison Associates LLC raised its position in Nevsun Resources by 51.4% in the first quarter. Jennison Associates LLC now owns 5,437,404 shares of the basic materials company’s stock worth $13,964,000 after buying an additional 1,845,017 shares during the period. Finally, Renaissance Technologies LLC raised its position in Nevsun Resources by 21.9% in the fourth quarter. Renaissance Technologies LLC now owns 6,207,600 shares of the basic materials company’s stock worth $19,180,000 after buying an additional 1,115,800 shares during the period.

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.

12 Month Chart for TSE:NSU

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