FIL Ltd Sells 6,247,283 Shares of Nevsun Resources (NSU)

FIL Ltd lowered its stake in Nevsun Resources (NYSEAMERICAN:NSU) by 31.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,549,923 shares of the company’s stock after selling 6,247,283 shares during the quarter. FIL Ltd’s holdings in Nevsun Resources were worth $60,124,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of NSU. JPMorgan Chase & Co. lifted its stake in Nevsun Resources by 233.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,763,027 shares of the company’s stock valued at $7,810,000 after buying an additional 1,235,084 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Nevsun Resources in the 2nd quarter valued at approximately $2,764,000. Perella Weinberg Partners Capital Management LP purchased a new stake in Nevsun Resources in the 3rd quarter valued at approximately $3,380,000. Bank of Nova Scotia lifted its stake in Nevsun Resources by 1,084.4% in the 2nd quarter. Bank of Nova Scotia now owns 594,991 shares of the company’s stock valued at $2,053,000 after buying an additional 544,755 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. purchased a new stake in Nevsun Resources in the 3rd quarter valued at approximately $2,382,000.

Shares of Nevsun Resources stock opened at $4.50 on Friday. Nevsun Resources has a fifty-two week low of $2.00 and a fifty-two week high of $4.53.

Nevsun Resources (NYSEAMERICAN:NSU) last issued its quarterly earnings results on Thursday, October 25th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The business had revenue of $71.61 million during the quarter.

NSU has been the topic of a number of recent analyst reports. Zacks Investment Research raised Nevsun Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 16th. Scotiabank lowered Nevsun Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, September 7th. Canaccord Genuity lowered Nevsun Resources from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, TheStreet raised Nevsun Resources from a “d+” rating to a “c-” rating in a research note on Tuesday, July 31st.

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About Nevsun Resources

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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Institutional Ownership by Quarter for Nevsun Resources (NYSEAMERICAN:NSU)

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