Nevsun Resources Ltd. (NYSEMKT:NSU) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,850,300 shares, a decrease of 7.9% from the October 13th total of 4,180,581 shares. Based on an average daily volume of 1,327,990 shares, the short-interest ratio is presently 2.9 days. Currently, 1.3% of the company’s shares are sold short.

Nevsun Resources (NYSEMKT:NSU) traded up $0.08 during trading on Monday, reaching $2.45. 1,580,000 shares of the company’s stock were exchanged, compared to its average volume of 942,080. Nevsun Resources has a 52 week low of $1.96 and a 52 week high of $3.52.

Separately, Macquarie upgraded shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday.

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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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