Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) rose 17.2% during mid-day trading on Wednesday . The company traded as high as C$5.81 and last traded at C$5.79. Approximately 3,454,916 shares were traded during trading, an increase of 217% from the average daily volume of 1,090,508 shares. The stock had previously closed at C$4.94.
NSU has been the subject of a number of research reports. Raymond James lifted their target price on shares of Nevsun Resources from C$5.00 to C$6.00 and gave the company a “market perform” rating in a research note on Thursday. Eight Capital lowered shares of Nevsun Resources from a “buy” rating to a “tender” rating and lifted their target price for the company from C$5.75 to C$6.00 in a research note on Thursday. Royal Bank of Canada lifted their target price on shares of Nevsun Resources from C$4.00 to C$5.00 and gave the company a “sector perform” rating in a research note on Friday, June 15th. Finally, Cormark lifted their target price on shares of Nevsun Resources from C$5.25 to C$5.50 in a research note on Wednesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of C$4.94.
Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) last released its quarterly earnings results on Thursday, July 26th. The basic materials company reported C($0.06) earnings per share for the quarter. The business had revenue of C$98.62 million for the quarter. Nevsun Resources had a negative net margin of 43.87% and a negative return on equity of 18.80%.
Nevsun Resources Company Profile (TSE:NSU)
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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