Could Nevsun Resources Recover After Today’s Huge Decline?

 Could Nevsun Resources Recover After Today's Huge Decline?

The stock of Nevsun Resources (TSE:NSU) is a huge mover today! About 320,379 shares traded hands. Nevsun Resources (TSE:NSU) has risen 6.68% since April 8, 2016 and is uptrending. It has outperformed by 1.70% the S&P500.
The move comes after 5 months negative chart setup for the $1.23B company. It was reported on Nov, 14 by Barchart.com. We have $3.87 PT which if reached, will make TSE:NSU worth $61.50M less.

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. Nevsun Resources has been the topic of 15 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Wednesday, December 2 by RBC Capital Markets. The stock of Nevsun Resources (TSE:NSU) has “Buy” rating given on Friday, October 28 by TD Securities. The rating was maintained by TD Securities on Friday, July 29 with “Buy”. The company was maintained on Friday, August 19 by Scotia Capital. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, January 15 report. The stock has “Hold” rating given by Canaccord Genuity on Monday, October 24. As per Friday, July 22, the company rating was maintained by RBC Capital Markets.

More notable recent Nevsun Resources (TSE:NSU) news were published by: Qz.com which released: “Eritrean workers are suing a Canadian mining company for using them as forced …” on September 29, 2016, also Seekingalpha.com with their article: “Nevsun Resources: I Was Not Expecting This” published on October 18, 2016, Fool.com published: “Why Ariad Pharmaceuticals, Nevsun Resources, and Ctrip.com International …” on June 17, 2016. More interesting news about Nevsun Resources (TSE:NSU) were released by: Seekingalpha.com and their article: “Nevsun Resources – Continued Immense Growth Potential” published on September 23, 2016 as well as Seekingalpha.com‘s news article titled: “Nevsun Resources: Bullish View Confirmed” with publication date: August 03, 2016.

Nevsun Resources Ltd is a Canada-based base metals mining company. The company has a market cap of $1.23 billion. The Firm is engaged in the acquisition, exploration, development and operation of mineral property interests. It has a 35.17 P/E ratio. The Company’s segment is the mining business in Africa.

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