Q3 2016 EPS Estimates for Nevsun Resources Cut by Raymond James Financial (NSU)
Nevsun Resources (TSE:NSU) – Raymond James Financial lowered their Q3 2016 earnings per share estimates for shares of Nevsun Resources in a research report issued on Tuesday. Raymond James Financial analyst A. Terentiew now forecasts that the brokerage will post earnings per share of $0.00 for the quarter, down from their previous estimate of $0.03. Raymond James Financial currently has a “Market Perform” rating and a $4.50 target price on the stock. Raymond James Financial also issued estimates for Nevsun Resources’ Q4 2016 earnings at $0.00 EPS and FY2017 earnings at $0.10 EPS.
Several other equities research analysts have also issued reports on the company. Scotiabank reissued a “sector perform” rating and set a C$5.00 price target on shares of Nevsun Resources in a research report on Wednesday, August 17th. Zacks Investment Research raised Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.00 price target on the stock in a research report on Thursday. TD Securities reissued a “buy” rating and set a C$5.50 price target on shares of Nevsun Resources in a research report on Friday, July 29th. Royal Bank Of Canada reissued an “outperform” rating and set a C$6.50 price target on shares of Nevsun Resources in a research report on Friday, July 22nd. Finally, Canaccord Genuity reissued a “buy” rating on shares of Nevsun Resources in a research report on Wednesday, September 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of C$5.31.
Shares of Nevsun Resources (TSE:NSU) opened at 3.84 on Thursday. Nevsun Resources has a 12 month low of $3.27 and a 12 month high of $4.81. The firm’s 50 day moving average is $4.09 and its 200 day moving average is $4.16. The stock has a market capitalization of $1.15 billion and a price-to-earnings ratio of 47.41.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 4.17%. The ex-dividend date is Wednesday, September 28th.
In related news, insider Thomas S. Whelan bought 50,000 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were purchased at an average cost of C$4.10 per share, with a total value of C$205,000.00.
Several hedge funds and other institutional investors have recently modified their holdings of NSU. Walthausen & Co. LLC raised its position in shares of Nevsun Resources by 9.6% in the second quarter. Walthausen & Co. LLC now owns 1,991,819 shares of the company’s stock worth $5,856,000 after buying an additional 174,940 shares during the period. Numeric Investors LLC acquired a new position in shares of Nevsun Resources during the second quarter worth approximately $225,000. Highbridge Capital Management LLC acquired a new position in shares of Nevsun Resources during the second quarter worth approximately $316,000. Jane Street Group LLC acquired a new position in shares of Nevsun Resources during the second quarter worth approximately $214,000. Finally, Paloma Partners Management Co raised its position in shares of Nevsun Resources by 147.1% in the second quarter. Paloma Partners Management Co now owns 48,000 shares of the company’s stock worth $141,000 after buying an additional 28,577 shares during the period.
Nevsun Resources Company Profile
Nevsun Resources Ltd. is a mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. The Company’s segment is the mining business in Africa. The Company’s principal property is the Bisha Property which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.
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