Analysts Set Nevsun Resources (NSU) Price Target at $5.50

Shares of Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) have been assigned an average rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$5.50.

Several research analysts have weighed in on the company. Eight Capital lowered Nevsun Resources from a “buy” rating to a “tender” rating and boosted their price target for the stock from C$5.75 to C$6.00 in a research report on Thursday, September 6th. Raymond James boosted their target price on Nevsun Resources from C$5.00 to C$6.00 and gave the stock a “market perform” rating in a report on Thursday, September 6th. Finally, TD Securities lowered Nevsun Resources from a “buy” rating to a “tender” rating and boosted their target price for the stock from C$4.50 to C$6.00 in a report on Tuesday, November 13th.

Shares of TSE:NSU traded up C$0.02 during trading on Monday, hitting C$5.97. 135,993 shares of the company were exchanged, compared to its average volume of 1,240,770. Nevsun Resources has a fifty-two week low of C$2.50 and a fifty-two week high of C$5.98.

Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported C($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.01 by C($0.09). The business had revenue of C$93.59 million during the quarter. Research analysts forecast that Nevsun Resources will post 0.02 EPS for the current fiscal year.

Nevsun Resources Company Profile

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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