Nevsun Resources (NSU) Downgraded by Eight Capital to Tender
Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU) was downgraded by research analysts at Eight Capital from a “buy” rating to a “tender” rating in a research report issued to clients and investors on Thursday, September 6th. They currently have a C$6.00 price target on the basic materials company’s stock, up from their prior price target of C$5.75. Eight Capital’s target price would indicate a potential upside of 3.45% from the stock’s current price.
Several other research analysts also recently weighed in on the stock. Raymond James boosted 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, September 6th. Cormark upped their price objective on shares of Nevsun Resources from C$5.25 to C$5.50 in a research note on Wednesday, June 27th. Finally, Royal Bank of Canada upped their price objective 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. One investment 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’s stock. Nevsun Resources has an average rating of “Hold” and a consensus target price of C$5.29.
Shares of TSE NSU traded up C$0.01 during trading on Thursday, hitting C$5.80. 946,200 shares of the company were exchanged, compared to its average volume of 1,161,246. Nevsun Resources has a 1 year low of C$2.50 and a 1 year high of C$5.85.
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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