Nevsun Resources (TSE:NSU) – Stock analysts at Raymond James Financial cut their Q1 2017 EPS estimates for Nevsun Resources in a research note issued to investors on Thursday. Raymond James Financial analyst A. Terentiew now forecasts that the brokerage will earn $0.03 per share for the quarter, down from their previous forecast of $0.04. Raymond James Financial has a “Market Perform” rating and a $4.50 price target on the stock.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.00 price target for the company in a research report on Thursday, October 6th. Scotiabank reissued a “sector perform” rating and issued a C$5.00 price target on shares of Nevsun Resources in a research report on Wednesday, August 17th. TD Securities reissued a “buy” rating and issued 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 issued 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 assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$5.31.

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

Shares of Nevsun Resources (TSE:NSU) opened at 3.62 on Friday. The firm has a 50-day moving average of $4.05 and a 200 day moving average of $4.14. Nevsun Resources has a 12-month low of $3.27 and a 12-month high of $4.81. The stock has a market capitalization of $1.08 billion and a price-to-earnings ratio of 44.69.

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Nevsun Resources by 125,521.6% in the second quarter. JPMorgan Chase & Co. now owns 5,652,972 shares of the company’s stock valued at $16,620,000 after buying an additional 5,648,472 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Nevsun Resources by 112.5% in the second quarter. Acadian Asset Management LLC now owns 4,431,377 shares of the company’s stock valued at $12,931,000 after buying an additional 2,346,200 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Nevsun Resources during the second quarter valued at approximately $3,288,000. AGF Investments Inc. raised its stake in shares of Nevsun Resources by 37,151.9% in the second quarter. AGF Investments Inc. now owns 850,462 shares of the company’s stock valued at $2,494,000 after buying an additional 848,179 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Nevsun Resources during the second quarter valued at approximately $2,387,000.

In related news, Director Gary Edward German sold 20,000 shares of Nevsun Resources stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of C$3.72, for a total transaction of C$74,400.00. Also, insider Thomas S. Whelan purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were bought at an average price of C$4.10 per share, for a total transaction of C$205,000.00.

The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.16 annualized dividend and a yield of 4.42%.

About Nevsun Resources

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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