Scotiabank Analysts Give Nevsun Resources (NSU) a C$4.75 Price Target

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) has been given a C$4.75 price objective by Scotiabank in a report released on Friday. The firm currently has an “outperform” rating on the basic materials company’s stock. Scotiabank’s price target indicates a potential upside of 60.47% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Nevsun Resources from C$4.00 to C$5.00 in a research note on Monday, October 30th. Canaccord Genuity lifted their target price on shares of Nevsun Resources from C$3.25 to C$4.50 in a research note 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 company from C$2.25 to C$4.25 in a research note on Monday, October 30th. TD Securities upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.75 target price for the company in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$2.50 target price for the company in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of C$4.31.

Shares of Nevsun Resources (TSE:NSU) opened at C$2.96 on Friday. The stock has a market cap of $894.55, a P/E ratio of -13.45 and a beta of 0.52. Nevsun Resources has a one year low of C$2.49 and a one year high of C$4.63.

In other news, Director David Smith acquired 20,500 shares of Nevsun Resources stock in a transaction dated Wednesday, December 6th. The stock was acquired at an average cost of C$2.77 per share, for a total transaction of C$56,785.00.

Several institutional investors have recently modified their holdings of NSU. K2 Principal Fund L.P. acquired a new stake in shares of Nevsun Resources in the second quarter worth $169,000. Virtu KCG Holdings LLC lifted its stake in shares of Nevsun Resources by 605.3% in the second quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock worth $187,000 after buying an additional 66,465 shares during the last quarter. Shell Asset Management Co. lifted its stake in shares of 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 last quarter. Bank of Nova Scotia lifted its stake in shares of 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 last quarter. Finally, CIBC World Markets Inc. lifted its stake in shares of Nevsun Resources by 42.1% in the second quarter. CIBC World Markets Inc. now owns 213,286 shares of the basic materials company’s stock worth $514,000 after buying an additional 63,185 shares during the last quarter.

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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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