TD Securities cut shares of Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) from a buy rating to a tender rating in a research report sent to investors on Tuesday morning. They currently have C$6.00 target price on the basic materials company’s stock, up from their previous target price of C$4.50.
Other research analysts also recently issued research reports about the company. Eight Capital downgraded Nevsun Resources from a buy rating to a tender rating and boosted their target price for the company from C$5.75 to C$6.00 in a research note on Thursday, September 6th. Raymond James boosted their target price on Nevsun Resources from C$5.00 to C$6.00 and gave the company a market perform rating in a research note on Thursday, September 6th. Two analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Nevsun Resources currently has an average rating of Hold and an average price target of C$5.50.
Shares of TSE NSU opened at C$5.88 on Tuesday. Nevsun Resources has a one year low of C$2.50 and a one year high of C$5.91.
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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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