Zacks Investment Research upgraded shares of Nevsun Resources (NYSEAMERICAN:NSU) from a sell rating to a hold rating in a report issued on Saturday.

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. “

Other equities research analysts also recently issued reports about the stock. Raymond James Financial, Inc. reiterated a mkt perform rating on shares of Nevsun Resources in a research report on Tuesday, August 15th. Macquarie upgraded shares of Nevsun Resources from a neutral rating to an outperform rating in a research report on Monday, November 13th.

Nevsun Resources (NYSEAMERICAN NSU) traded down $0.01 during midday trading on Friday, hitting $2.33. 591,371 shares of the stock were exchanged, compared to its average volume of 970,694. Nevsun Resources has a 52 week low of $1.96 and a 52 week high of $3.52.

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An institutional investor recently raised its position in Nevsun Resources stock. Allianz Asset Management GmbH raised its position in shares of Nevsun Resources (NYSEAMERICAN:NSU) by 2,773.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,000 shares of the company’s stock after purchasing an additional 376,427 shares during the period. Allianz Asset Management GmbH owned approximately 0.13% of Nevsun Resources worth $842,000 at the end of the most recent reporting period.

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.

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