CIBC World Markets Inc. Sells 125,837 Shares of Nevsun Resources (NSU)
CIBC World Markets Inc. lowered its stake in Nevsun Resources (NYSEAMERICAN:NSU) by 44.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 155,176 shares of the company’s stock after selling 125,837 shares during the quarter. CIBC World Markets Inc.’s holdings in Nevsun Resources were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Nevsun Resources by 140.0% during the second quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock worth $142,000 after purchasing an additional 23,835 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Nevsun Resources during the second quarter worth about $237,000. ARP Americas LP purchased a new stake in shares of Nevsun Resources during the third quarter worth about $832,000. Alliancebernstein L.P. grew its position in shares of Nevsun Resources by 2,628.4% during the third quarter. Alliancebernstein L.P. now owns 346,512 shares of the company’s stock worth $1,535,000 after purchasing an additional 333,812 shares in the last quarter. Finally, Kassirer Asset Management Corp purchased a new stake in shares of Nevsun Resources during the third quarter worth about $1,556,000.
Several analysts recently issued reports on the company. Zacks Investment Research cut Nevsun Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 1st. Canaccord Genuity cut Nevsun Resources from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Scotiabank cut Nevsun Resources from an “outperform” rating to a “sector perform” rating in a research report on Friday, September 7th.
Nevsun Resources (NYSEAMERICAN:NSU) last released its quarterly earnings results on Thursday, October 25th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $71.61 million during the quarter.
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About Nevsun Resources
Nevsun Resources Ltd. engages in the mining and development of mineral properties in Europe, Africa, and North America. It explores for gold, copper, zinc, and silver deposits. The company's principal assets include Timok project, a copper-gold development project in Serbia; and Bisha copper- zinc mine in Eritrea.
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