Bank of New York Mellon Corp boosted its stake in Nevsun Resources (TSE:NSU) by 28.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 317,012 shares of the company’s stock after buying an additional 70,987 shares during the period. Bank of New York Mellon Corp owned 0.13% of Nevsun Resources worth $932,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. First New York Securities LLC NY bought a new position in Nevsun Resources during the second quarter worth $319,000. FNY Managed Accounts LLC bought a new position in Nevsun Resources during the second quarter worth $147,000. Bank of Montreal Can bought a new position in Nevsun Resources during the second quarter worth $3,288,000. Acadian Asset Management LLC raised its position in Nevsun Resources by 112.5% in the second quarter. Acadian Asset Management LLC now owns 4,431,377 shares of the company’s stock worth $12,931,000 after buying an additional 2,346,200 shares during the last quarter. Finally, AXA raised its position in Nevsun Resources by 8,478.9% in the first quarter. AXA now owns 163,000 shares of the company’s stock worth $529,000 after buying an additional 161,100 shares during the last quarter.
Shares of Nevsun Resources (TSE:NSU) traded up 0.56% during mid-day trading on Friday, reaching $3.62. The company’s stock had a trading volume of 501,550 shares. The company has a 50-day moving average price of $4.05 and a 200 day moving average price of $4.14. The company has a market cap of $1.08 billion and a PE ratio of 44.69. Nevsun Resources has a 52-week low of $3.27 and a 52-week high of $4.81.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Wednesday, September 28th.
A number of analysts have recently issued reports on NSU shares. TD Securities reiterated a “buy” rating and set a C$5.50 price target on shares of Nevsun Resources in a research report on Friday, July 29th. Dundee Securities lifted their price target on Nevsun Resources from C$6.25 to C$7.00 in a research report on Monday, June 20th. Zacks Investment Research upgraded Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.50 price target for the company in a research report on Thursday, August 25th. Scotiabank reiterated a “sector perform” rating and set a C$5.00 price target on shares of Nevsun Resources in a research report on Friday, September 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a C$6.50 price target on shares of Nevsun Resources in a research report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Nevsun Resources presently has an average rating of “Buy” and a consensus target price of C$5.31.
In related news, insider Thomas S. Whelan purchased 50,000 shares of Nevsun Resources stock in a transaction on Friday, September 2nd. The stock was acquired at an average price of C$4.10 per share, for a total transaction of C$205,000.00. Also, Director Gary Edward German sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of C$3.72, for a total value of C$74,400.00.
Nevsun Resources Company Profile
Nevsun Resources Ltd. is a mining company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. The Company’s segment is the mining business in Africa. The Company’s principal property is the Bisha Property which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.
Want to see what other hedge funds are holding NSU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nevsun Resources (TSE:NSU).
Receive News & Ratings for Nevsun Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevsun Resources and related companies with MarketBeat.com's FREE daily email newsletter.