Nevsun Resources Ltd (NYSEMKT:NSU) : 3 analysts are covering Nevsun Resources Ltd (NYSEMKT:NSU) and their average rating on the stock is 2.33, which is read as a Buy. Nevsun Resources Ltd (NYSEMKT:NSU) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Nevsun Resources Ltd (NYSEMKT:NSU) : The highest level Nevsun Resources Ltd (NYSEMKT:NSU) is projected to reach is $4 for the short term and the lowest estimate is at $3. The consolidated price target from 3 rating analysts who initiate coverage on the stock is $3.6 and the possibility the share price can swing is $0.26.
For the current week, the company shares have a recommendation consensus of Buy. Also, RBC Capital upgrades its view on Nevsun Resources Ltd (NYSEMKT:NSU) according to the research report released by the firm to its investors. The shares have now been rated Outperform by the stock experts at the ratings house. Earlier, the shares had a rating of Sector Perform. The rating by the firm was issued on April 27, 2016.
Nevsun Resources Ltd (NYSEMKT:NSU): stock turned positive on Tuesday. Though the stock opened at $2.9, the bulls momentum made the stock top out at $2.9765 level for the day. The stock recorded a low of $2.86 and closed the trading day at $2.89, in the green by 1.05%. The total traded volume for the day was 880,251. The stock had closed at $2.86 in the previous days trading.
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.