Zacks Investment Research lowered shares of Nevsun Resources (NYSEAMERICAN:NSU) from a buy rating to a hold rating in a report issued on Wednesday morning.

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. “

Separately, Macquarie raised shares of Nevsun Resources from a neutral rating to an outperform rating in a report on Monday, November 13th.

Shares of Nevsun Resources (NYSEAMERICAN:NSU) traded down $0.04 during trading hours on Wednesday, hitting $2.39. 485,108 shares of the stock were exchanged, compared to its average volume of 609,375. The company has a market cap of $721.90, a price-to-earnings ratio of -14.06 and a beta of 0.88. Nevsun Resources has a 1 year low of $1.96 and a 1 year high of $3.52.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.67%. Nevsun Resources’s dividend payout ratio (DPR) is -23.53%.

A hedge fund recently raised its stake in Nevsun Resources stock. Allianz Asset Management GmbH increased its holdings in Nevsun Resources (NYSEAMERICAN:NSU) by 2,773.4% in the third quarter, according to its most recent 13F filing with the 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 as of its most recent SEC filing.

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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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