Nevsun Resources Ltd (NSU) : Zacks Investment Research ranks Nevsun Resources Ltd (NSU) as 3, which is a Hold recommendation. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 3 research analysts is 2.33, which indicates as a Buy.
Nevsun Resources Ltd (NSU) stock is expected to deviate a maximum of $0.26 from the average target price of $3.6 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $4 and the most muted being $3.
For the current week, the company shares have a recommendation consensus of Buy.
Nevsun Resources Ltd (NYSEMKT:NSU): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.99 and $2.96 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.07. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.07, notching a gain of 2.68% for the day. The total traded volume was 1,643,712 . The stock had closed at $2.99 on the previous day.
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.