Nevsun Resources Ltd (NYSEMKT:NSU) has tumbled 12.25% during the past week and has dropped 9.88% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 11.19%. Nevsun Resources Ltd (NYSEMKT:NSU) has underperformed the index by 10.7% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Nevsun Resources Ltd (NYSEMKT:NSU): The stock opened at $3.25 on Friday but the bulls could not build on the opening and the stock topped out at $3.26 for the day. The stock traded down to $2.98 during the day, due to lack of any buying support eventually closed down at $3.01 with a loss of -8.79% for the day. The stock had closed at $3.30 on the previous day. The total traded volume was 1,830,986 shares.
The company shares have dropped -23.41% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $4.10 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $3.39 and the 200 Day Moving Average price is recorded at $3.08.
Many analysts have stated their opinion 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. Institutional Investors own 29.67% of Nevsun Resources Ltd shares.
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.