Nevsun Resources (NSU) Insider Peter Tam Purchases 10,000 Shares of Stock

Nevsun Resources (TSE:NSU) (TSE:NSU) insider Peter Tam purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was bought at an average price of C$3.28 per share, for a total transaction of C$32,800.00.

Shares of Nevsun Resources (TSE:NSU) traded up 1.25% during mid-day trading on Monday, hitting $3.24. 896,646 shares of the stock traded hands. The firm has a market capitalization of $978.06 million and a P/E ratio of 81.00. The company’s 50 day moving average is $3.72 and its 200 day moving average is $4.02. Nevsun Resources has a one year low of $3.01 and a one year high of $4.81.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 29th.

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Several hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its stake in shares of Nevsun Resources by 17.8% in the third quarter. Great West Life Assurance Co. Can now owns 48,397 shares of the company’s stock worth $146,000 after buying an additional 7,321 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new stake in Nevsun Resources during the fourth quarter valued at about $154,000. BARING ASSET MANAGEMENT Ltd raised its stake in Nevsun Resources by 14.5% in the third quarter. BARING ASSET MANAGEMENT Ltd now owns 71,580 shares of the company’s stock valued at $216,000 after buying an additional 9,084 shares during the period. PNC Financial Services Group Inc. raised its stake in Nevsun Resources by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 110,074 shares of the company’s stock valued at $334,000 after buying an additional 2,000 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Nevsun Resources by 131.1% in the third quarter. Wells Fargo & Company MN now owns 114,810 shares of the company’s stock valued at $347,000 after buying an additional 65,129 shares during the period.

NSU has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Nevsun Resources in a research report on Wednesday, February 1st. They issued a “market perform” rating and a C$4.75 price target on the stock. Scotiabank restated a “sector perform” rating and issued a C$5.00 price target on shares of Nevsun Resources in a research report on Friday, January 13th. Canaccord Genuity raised their price target on shares of Nevsun Resources from C$4.50 to C$4.75 in a research report on Monday, December 12th. Paradigm Capital decreased their price target on shares of Nevsun Resources from C$7.70 to C$6.50 in a research report on Monday, February 27th. Finally, Royal Bank of Canada decreased their price target on shares of Nevsun Resources from C$6.50 to C$5.50 and set an “outperform (spec)” rating on the stock in a research report on Monday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Nevsun Resources has an average rating of “Buy” and an average price target of C$5.08.

Nevsun Resources Company Profile

Nevsun Resources Ltd is a Canada-based base metals mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. Its segment is the mining business in Africa. Its principal property is the Bisha Property, which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.

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