FY2017 EPS Estimates for Nevsun Resources Decreased by Haywood Securities (NSU)

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) – Research analysts at Haywood Securities lowered their FY2017 earnings estimates for Nevsun Resources in a report released on Wednesday. Haywood Securities analyst P. Vaillancourt now forecasts that the basic materials company will earn ($0.17) per share for the year, down from their prior estimate of ($0.12).

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A number of other equities research analysts have also recently issued reports on NSU. TD Securities cut shares of Nevsun Resources from a “buy” rating to a “hold” rating and lowered their target price for the company from C$5.00 to C$4.00 in a report on Thursday, August 10th. Scotiabank lowered their target price on shares of Nevsun Resources from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a report on Thursday, August 10th. Royal Bank Of Canada cut shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$5.50 to C$4.00 in a report on Friday, August 11th. TheStreet cut shares of Nevsun Resources from a “c” rating to a “d+” rating in a report on Thursday, August 10th. Finally, Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Nevsun Resources in a report on Tuesday, August 15th. One 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’s stock. The stock has a consensus rating of “Buy” and an average price target of C$4.31.

Shares of Nevsun Resources (NSU) opened at C$2.92 on Monday. Nevsun Resources has a 1-year low of C$2.49 and a 1-year high of C$4.63.

In other news, insider Scott Trebilcock bought 40,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of C$2.82 per share, for a total transaction of C$112,800.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aperio Group LLC lifted its holdings in Nevsun Resources by 2.7% in the second quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after buying an additional 4,332 shares during the period. Shell Asset Management Co. lifted its holdings in Nevsun Resources by 87.7% in the third quarter. Shell Asset Management Co. now owns 47,620 shares of the basic materials company’s stock worth $193,000 after buying an additional 22,248 shares during the period. Swiss National Bank lifted its holdings in Nevsun Resources by 6.1% in the second quarter. Swiss National Bank now owns 523,000 shares of the basic materials company’s stock worth $1,263,000 after buying an additional 30,300 shares during the period. Bank of Nova Scotia lifted its holdings in Nevsun Resources by 88.5% in the second quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock worth $221,000 after buying an additional 42,987 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its holdings in Nevsun Resources by 36.9% in the second quarter. Deprince Race & Zollo Inc. now owns 232,720 shares of the basic materials company’s stock worth $561,000 after buying an additional 62,720 shares during the period.

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.

Earnings History and Estimates for Nevsun Resources (TSE:NSU)

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