Emerald Acquisition Ltd. purchased a new stake in Nevsun Resources (TSE:NSU) during the second quarter, according to its most recent filing with the SEC. The fund purchased 817,420 shares of the company’s stock, valued at approximately $2,387,000. Emerald Acquisition Ltd. owned about 0.34% of Nevsun Resources at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. FNY Managed Accounts LLC purchased a new position in shares of Nevsun Resources during the second quarter valued at about $147,000. Spark Investment Management LLC boosted its position in shares of Nevsun Resources by 43.5% in the first quarter. Spark Investment Management LLC now owns 89,000 shares of the company’s stock valued at $287,000 after buying an additional 27,000 shares in the last quarter. First New York Securities LLC NY purchased a new position in shares of Nevsun Resources during the second quarter valued at about $319,000. Aperio Group LLC boosted its position in shares of Nevsun Resources by 14.6% in the first quarter. Aperio Group LLC now owns 115,856 shares of the company’s stock valued at $375,000 after buying an additional 14,740 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nevsun Resources by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 160,192 shares of the company’s stock valued at $467,000 after buying an additional 12,600 shares in the last quarter.
Shares of Nevsun Resources (TSE:NSU) traded up 0.122% during mid-day trading on Wednesday, hitting $4.095. 626,517 shares of the stock were exchanged. Nevsun Resources has a 12 month low of $3.27 and a 12 month high of $4.81. The stock’s 50 day moving average is $4.16 and its 200 day moving average is $4.19. The firm has a market cap of $1.23 billion and a P/E ratio of 50.556.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 3.91%.
Several brokerages have recently issued reports on NSU. Dundee Securities raised their target price on shares of Nevsun Resources from C$6.25 to C$7.00 in a report on Monday, June 20th. Canaccord Genuity restated a “buy” rating on shares of Nevsun Resources in a report on Wednesday, September 14th. Zacks Investment Research upgraded shares of Nevsun Resources from a “hold” rating to a “buy” rating and set a C$3.50 target price on the stock in a report on Thursday, August 25th. Royal Bank Of Canada restated an “outperform” rating and issued a C$6.50 target price on shares of Nevsun Resources in a report on Friday, July 22nd. Finally, TD Securities restated a “buy” rating and issued a C$5.50 target price on shares of Nevsun Resources in a report on Monday, June 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Nevsun Resources has an average rating of “Buy” and a consensus price target of C$5.31.
In other news, insider Thomas S. Whelan acquired 50,000 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were acquired at an average cost of C$4.10 per share, with a total value of C$205,000.00.
About Nevsun Resources
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.
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