Nevsun Resources (NSU) Sees Significant Decline in Short Interest
Nevsun Resources (NYSEAMERICAN:NSU) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,300,722 shares, a drop of 7.4% from the January 12th total of 2,483,569 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 741,978 shares, the short-interest ratio is presently 3.1 days.
NSU has been the subject of several research analyst reports. Zacks Investment Research raised shares of Nevsun Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. Macquarie raised shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, November 13th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new position in Nevsun Resources during the 4th quarter valued at about $441,000. Virtu Financial LLC lifted its position in Nevsun Resources by 873.9% during the 4th quarter. Virtu Financial LLC now owns 193,363 shares of the company’s stock valued at $472,000 after acquiring an additional 173,509 shares during the period. Allianz Asset Management GmbH lifted its position in Nevsun Resources by 2,773.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 390,000 shares of the company’s stock valued at $842,000 after acquiring an additional 376,427 shares during the period. The Manufacturers Life Insurance Company lifted its position in Nevsun Resources by 40.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 347,847 shares of the company’s stock valued at $849,000 after acquiring an additional 99,334 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in Nevsun Resources during the 4th quarter valued at about $1,322,000.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, December 29th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.04 dividend on an annualized basis and a yield of 1.85%. Nevsun Resources’s dividend payout ratio (DPR) is currently -23.53%.
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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