Raymond James May Have Just Lost Faith in Nevsun Resources (NYSEMKT:NSU)

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Nevsun Resources (NYSEMKT:NSU) Receives a Downgrade

In analysts report made public on 4 December, professional analysts at Raymond James’s division of equities cut the rating for Nevsun Resources (NYSEMKT:NSU) shares from the previous Outperform to a Mkt Perform.

From a total of 6 analysts covering Nevsun Resources (NYSEMKT:NSU) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is $4.14 while the lowest target price is $3.01. The mean of all analyst targets is $3.7 with a 98.50% above today’s ($2.67) stock price. Nevsun Resources was the topic of 6 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Raymond James maintained shares on September 3 with “Outperform” rating.

Approximately 100,688 shares of stock traded hands. Nevsun Resources (USA) (NYSEMKT:NSU) has declined 32.25% since May 1, 2015 and is downtrending. It has underperformed by 29.47% the S&P500.

Raymond James May Have Just Lost Faith in Nevsun Resources (NYSEMKT:NSU)

Nevsun Resources Ltd. is engaged in the acquisition, exploration, development and operation of mineral property interests. The company has a market cap of $540.56 million. The Company’s principal mining operation is the Bisha Mine and the Company’s principal mineral property is the Bisha property, which is owned by Bisha Mining Share Company (BMSC). It has 11.84 P/E ratio. The Company’s wholly owned subsidiaries include Nevsun (Barbados) Holdings Ltd., Nevsun Africa (Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd.

According to Zacks Investment Research, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa.” Get a free copy of the Zacks research report on Nevsun Resources (USA) (NSU).

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