Nevsun Resources (TSE:NSU) (TSE:NSU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa. “

Several other equities analysts have also recently commented on NSU. TheStreet cut shares of Nevsun Resources from a “c” rating to a “d+” rating in a research note on Thursday, August 10th. TD Securities cut shares of Nevsun Resources from a “buy” rating to a “hold” rating and cut their target price for the company from C$5.00 to C$4.00 in a research note on Thursday, August 10th. BMO Capital Markets cut shares of Nevsun Resources from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$4.00 to C$3.25 in a research note on Wednesday, August 16th. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Nevsun Resources in a research note on Tuesday, August 15th. Finally, Eight Capital reiterated a “neutral” rating on shares of Nevsun Resources in a research note on Thursday, August 17th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Nevsun Resources currently has an average rating of “Hold” and a consensus target price of C$4.13.

Shares of Nevsun Resources (TSE NSU) opened at 2.71 on Wednesday. Nevsun Resources has a 52-week low of $2.49 and a 52-week high of $4.63. The stock has a 50 day moving average of $2.91 and a 200 day moving average of $3.15. The company’s market cap is $818.66 million.

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In other Nevsun Resources news, insider Peter Gerald Jan Kukielski acquired 105,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average price of C$2.62 per share, for a total transaction of C$275,100.00. Also, insider Scott Trebilcock acquired 40,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of C$2.82 per share, with a total value of C$112,800.00.

Several hedge funds have recently made changes to their positions in the company. Bank of Nova Scotia raised its stake in shares of Nevsun Resources by 88.5% in the 2nd quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock valued at $221,000 after buying an additional 42,987 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Nevsun Resources by 505.7% in the 2nd quarter. Royal Bank of Canada now owns 980,600 shares of the basic materials company’s stock valued at $2,364,000 after buying an additional 818,703 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in shares of Nevsun Resources by 605.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock valued at $187,000 after buying an additional 66,465 shares in the last quarter. FIL Ltd raised its stake in shares of Nevsun Resources by 10.0% in the 2nd quarter. FIL Ltd now owns 10,492,649 shares of the basic materials company’s stock valued at $25,323,000 after buying an additional 949,823 shares in the last quarter. Finally, K2 Principal Fund L.P. acquired a new position in shares of Nevsun Resources in the 2nd quarter valued at $169,000.

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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

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