Nevsun Resources Ltd (NYSEMKT:NSU) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 2.33 by 3 Brokerage Firm. 2 stock experts have also suggested a buy rating. 1 Brokerage Firms have advised hold.
Other Equity analysts have also commented on the company shares. Major Brokerage house, RBC Capital upgrades its ratings on Nevsun Resources Ltd (NYSEMKT:NSU). According to the latest information available, the shares are now rated Outperform by the analysts at the agency. Previously, the analysts had a Sector Perform rating on the shares. The rating by the firm was issued on April 27, 2016.
Nevsun Resources Ltd (NYSEMKT:NSU) should head towards $3.6 per share according to 3 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $3 per share. The higher price estimate target is at $4 according to the Analysts.
Nevsun Resources Ltd (NYSEMKT:NSU) witnessed a decline in the market cap on Tuesday as its shares dropped 1.67% or 0.05 points. After the session commenced at $3, the stock reached the higher end at $3 while it hit a low of $2.9208. With the volume soaring to 869,660 shares, the last trade was called at $2.94. The company has a 52-week high of $4.1. The company has a market cap of $588 million and there are 199,839,970 shares in outstanding. The 52-week low of the share price is $2.27.
Nevsun Resources Ltd. has lost 10.65% in the last five trading days and dropped 10.92% in the last 4 weeks. Nevsun Resources Ltd. has dropped 12.2% during the last 3-month period . Year-to-Date the stock performance stands at 11.12%.
Nevsun Resources Ltd. (Nevsun) is engaged in the acquisition, exploration, development and operation of mineral property interests. The Companys principal mining operation is the Bisha Mine and the Companys principal mineral property is the Bisha property, which is owned by Bisha Mining Share Company (BMSC). The Companys wholly owned subsidiaries include Nevsun (Barbados) Holdings Ltd., Nevsun Africa (Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd. The Company has 60% interest in BMSC. Bisha is a volcanogenic massive sulphide (VMS) deposit located 150 kilometers west of Asmara, Eritrea, East Africa. The Bisha mine hosts a gold, copper and zinc deposit and the overall Bisha district includes satellite VMS deposits known as Harena, Northwest and Hambok. The Bisha Main deposit is located within the Bisha Mining License and the Harena satellite deposit lies in a separate mining license 6 kilometers south. Bisha Main and Harena form 100% of the mineral reserves for Bisha.