What’s Propelling Nevsun Resources to Increase So Much?

 What's Propelling Nevsun Resources to Increase So Much?

The stock of Nevsun Resources (TSE:NSU) is a huge mover today! About 648,191 shares traded hands. Nevsun Resources (TSE:NSU) has declined 6.82% since April 15, 2016 and is downtrending. It has underperformed by 10.68% the S&P500.
The move comes after 7 months positive chart setup for the $1.23B company. It was reported on Nov, 21 by Barchart.com. We have $6.95 PT which if reached, will make TSE:NSU worth $848.70M more.

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 25.06% above today’s ($4.11) stock price. Nevsun Resources has been the topic of 15 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Friday, October 28 the stock rating was maintained by TD Securities with “Buy”. TD Securities maintained Nevsun Resources (TSE:NSU) on Friday, July 29 with “Buy” rating. Canaccord Genuity downgraded it to “Hold” rating and $4.50 target price in Monday, October 24 report. As per Friday, January 15, the company rating was maintained by RBC Capital Markets. The stock of Nevsun Resources (TSE:NSU) has “Sector Perform” rating given on Friday, August 19 by Scotia Capital. The stock of Nevsun Resources (TSE:NSU) has “Outperform” rating given on Friday, July 22 by RBC Capital Markets. The firm earned “Sector Perform” rating on Wednesday, December 2 by RBC Capital Markets.

More notable recent Nevsun Resources (TSE:NSU) news were published by: Seekingalpha.com which released: “Nevsun Resources – Strong Quarterly Earnings Shows Continued Strength” on November 17, 2016, also Qz.com with their article: “Eritrean workers are suing a Canadian mining company for using them as forced …” published on September 29, 2016, Seekingalpha.com published: “Nevsun Resources: I Was Not Expecting This” on October 18, 2016. More interesting news about Nevsun Resources (TSE:NSU) were released by: Fool.com and their article: “Why Ariad Pharmaceuticals, Nevsun Resources, and Ctrip.com International …” published on June 17, 2016 as well as Seekingalpha.com‘s news article titled: “Nevsun Resources – Continued Immense Growth Potential” with publication date: September 23, 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 35.62 P/E ratio. The Company’s segment is the mining business in Africa.

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