Schroder Investment Management Group reduced its stake in Nevsun Resources (TSE:NSU) (TSE:NSU) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,164,361 shares of the basic materials company’s stock after selling 418,050 shares during the period. Schroder Investment Management Group owned 0.72% of Nevsun Resources worth $6,861,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in NSU. Edmond DE Rothschild Holding S.A. grew its position in shares of Nevsun Resources by 44.2% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 137,000 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 42,000 shares during the last quarter. Cambrian Capital Limited Partnership grew its position in shares of Nevsun Resources by 84.0% during the first quarter. Cambrian Capital Limited Partnership now owns 138,000 shares of the basic materials company’s stock worth $353,000 after acquiring an additional 63,000 shares during the last quarter. Aperio Group LLC grew its position in shares of Nevsun Resources by 2.7% during the second quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 4,332 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Nevsun Resources during the first quarter worth approximately $408,000. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Nevsun Resources during the first quarter worth approximately $436,000.
In other news, insider Scott Trebilcock acquired 40,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of C$2.82 per share, for a total transaction of C$112,800.00. Also, insider Peter Gerald Jan Kukielski acquired 105,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average price of C$2.62 per share, with a total value of C$275,100.00.
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Nevsun Resources (TSE NSU) opened at 2.73 on Tuesday. The stock has a 50 day moving average price of $2.83 and a 200-day moving average price of $3.12. Nevsun Resources has a 12 month low of $2.49 and a 12 month high of $4.63. The stock’s market cap is $824.70 million.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.81%.
A number of brokerages have recently issued reports on NSU. Zacks Investment Research upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$2.50 target price on the stock in a research report on Thursday, September 14th. Scotiabank raised Nevsun Resources from a “sector perform” rating to an “outperform” rating and set a C$3.50 price target for the company in a report on Friday, September 8th. Eight Capital reaffirmed a “neutral” rating on shares of Nevsun Resources in a report on Thursday, August 17th. BMO Capital Markets downgraded Nevsun Resources from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$4.00 to C$3.25 in a report on Wednesday, August 16th. Finally, Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday, August 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of C$4.13.
Nevsun Resources Company Profile
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.
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