Nevsun Resources’s Trend Up, Especially After Today’s Gap Up

 Nevsun Resources's Trend Up, Especially After Today's Gap Up

The stock of Nevsun Resources (TSE:NSU) gapped up by $0.02 today and has $5.43 target or 39.00% above today’s $3.91 share price. The 8 months technical chart setup indicates low risk for the $1.18 billion company. The gap was reported on Nov, 9 by If the $5.43 price target is reached, the company will be worth $460.20M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 244,133 shares traded hands. Nevsun Resources (TSE:NSU) has declined 7.43% since April 5, 2016 and is downtrending. It has underperformed by 12.22% the S&P500.

Nevsun Resources (TSE:NSU) Ratings Coverage

Out of 7 analysts covering Nevsun Resources (TSE:NSU), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. $6.50 is the highest target while $4 is the lowest. The $5.14 average target is 31.46% above today’s ($3.91) stock price. Nevsun Resources has been the topic of 15 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, October 28 by TD Securities. The stock of Nevsun Resources (TSE:NSU) earned “Outperform” rating by RBC Capital Markets on Friday, July 22. The firm earned “Sector Perform” rating on Wednesday, December 2 by RBC Capital Markets. The stock has “Hold” rating given by Canaccord Genuity on Monday, October 24. The stock of Nevsun Resources (TSE:NSU) earned “Buy” rating by TD Securities on Friday, July 29. Scotia Capital maintained Nevsun Resources (TSE:NSU) rating on Friday, August 19. Scotia Capital has “Sector Perform” rating and $5 price target. RBC Capital Markets maintained Nevsun Resources (TSE:NSU) on Friday, January 15 with “Sector Perform” rating.

More notable recent Nevsun Resources (TSE:NSU) news were published by: which released: “Nevsun Resources: I Was Not Expecting This” on October 18, 2016, also with their article: “Nevsun Resources – Continued Immense Growth Potential” published on September 23, 2016, published: “Why Ariad Pharmaceuticals, Nevsun Resources, and International …” on June 17, 2016. More interesting news about Nevsun Resources (TSE:NSU) were released by: and their article: “Nevsun Resources: Bullish View Confirmed” published on August 03, 2016 as well as‘s news article titled: “Nevsun Resources – I Would Buy After Friday’s Crash” with publication date: June 20, 2016.

Nevsun Resources Ltd is a Canada-based base metals mining company. The company has a market cap of $1.18 billion. The Firm is engaged in the acquisition, exploration, development and operation of mineral property interests. It has a 34.47 P/E ratio. The Company’s segment is the mining business in Africa.

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