Bank of Nova Scotia Has $125,000 Stake in Nevsun Resources (TSE:NSU)
Bank of Nova Scotia lowered its position in Nevsun Resources (TSE:NSU) (TSE:NSU) by 37.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,597 shares of the basic materials company’s stock after selling 29,666 shares during the period. Bank of Nova Scotia’s holdings in Nevsun Resources were worth $125,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of NSU. Vanguard Group Inc. increased its stake in shares of Nevsun Resources by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,576,489 shares of the basic materials company’s stock valued at $14,276,000 after buying an additional 292,766 shares during the period. Global X Management Co. LLC increased its stake in shares of Nevsun Resources by 7.6% in the first quarter. Global X Management Co. LLC now owns 559,346 shares of the basic materials company’s stock valued at $1,434,000 after buying an additional 39,390 shares during the period. FIL Ltd increased its stake in shares of Nevsun Resources by 75.8% in the first quarter. FIL Ltd now owns 9,542,826 shares of the basic materials company’s stock valued at $24,536,000 after buying an additional 4,113,409 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Nevsun Resources during the first quarter valued at about $436,000. Finally, Schroder Investment Management Group increased its stake in shares of Nevsun Resources by 5.7% in the first quarter. Schroder Investment Management Group now owns 2,582,411 shares of the basic materials company’s stock valued at $8,599,000 after buying an additional 138,347 shares during the period.
Nevsun Resources (NSU) traded down 0.29% during midday trading on Tuesday, hitting $3.39. 701,225 shares of the stock were exchanged. Nevsun Resources has a 1-year low of $2.83 and a 1-year high of $4.63. The firm has a market capitalization of $1.02 billion and a P/E ratio of 484.29. The firm’s 50-day moving average price is $3.16 and its 200 day moving average price is $3.41.
The company also recently announced a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Friday, June 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, June 28th.
Several equities research analysts have issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Nevsun Resources in a research report on Monday, April 24th. TD Securities cut their price objective on shares of Nevsun Resources from C$5.50 to C$5.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Finally, Scotiabank restated a “sector perform” rating and set a C$4.25 price objective on shares of Nevsun Resources in a research report on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Nevsun Resources presently has an average rating of “Buy” and an average price target of C$4.69.
In other news, Director Anne Elizabeth Giardini bought 24,000 shares of the stock in a transaction on Thursday, May 11th. The shares were acquired at an average cost of C$3.13 per share, for a total transaction of C$75,120.00.
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.
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