Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) has earned a consensus rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$4.57.

Several equities research analysts have issued reports on the company. Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Nevsun Resources in a research report on Tuesday, August 15th. BMO Capital Markets downgraded Nevsun Resources from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from C$4.00 to C$3.25 in a research report on Wednesday, August 16th. Scotiabank upgraded Nevsun Resources from a “sector perform” rating to an “outperform” rating and set a C$3.50 target price on the stock in a research report on Friday, September 8th. Eight Capital restated a “neutral” rating on shares of Nevsun Resources in a research report on Thursday, August 17th. Finally, TD Securities downgraded Nevsun Resources from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$5.00 to C$4.00 in a research report on Thursday, August 10th.

In other Nevsun Resources news, insider Scott Trebilcock acquired 40,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of C$2.82 per share, for a total transaction of C$112,800.00.

Hedge funds have recently modified their holdings of the stock. K2 Principal Fund L.P. purchased a new stake in shares of Nevsun Resources in the second quarter worth $169,000. Virtu KCG Holdings LLC raised its position in shares of Nevsun Resources by 605.3% in the second quarter. Virtu KCG Holdings LLC now owns 77,446 shares of the basic materials company’s stock worth $187,000 after buying an additional 66,465 shares in the last quarter. Shell Asset Management Co. raised its position in shares of Nevsun Resources by 87.7% in the third quarter. Shell Asset Management Co. now owns 47,620 shares of the basic materials company’s stock worth $193,000 after buying an additional 22,248 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Nevsun Resources by 88.5% in the second quarter. Bank of Nova Scotia now owns 91,584 shares of the basic materials company’s stock worth $221,000 after buying an additional 42,987 shares in the last quarter. Finally, Aperio Group LLC raised its position in shares of Nevsun Resources by 2.7% in the second quarter. Aperio Group LLC now owns 163,805 shares of the basic materials company’s stock worth $395,000 after buying an additional 4,332 shares in the last quarter.

Nevsun Resources (TSE:NSU) traded up C$0.03 during trading hours on Thursday, hitting C$3.05. The company’s stock had a trading volume of 194,505 shares, compared to its average volume of 681,937. Nevsun Resources has a 12-month low of C$2.49 and a 12-month high of C$4.63.

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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.

Analyst Recommendations for Nevsun Resources (TSE:NSU)

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