Cormark Comments on Nevsun Resources’ FY2018 Earnings (NSU)
Nevsun Resources (NYSEAMERICAN:NSU) – Equities researchers at Cormark issued their FY2018 earnings estimates for shares of Nevsun Resources in a research report issued on Monday. Cormark analyst S. Ioannou expects that the company will earn $0.06 per share for the year. Cormark also issued estimates for Nevsun Resources’ FY2019 earnings at $0.10 EPS, FY2020 earnings at $0.02 EPS and FY2021 earnings at ($0.04) EPS.
A number of other analysts have also commented on NSU. Macquarie raised shares of Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, November 13th. Zacks Investment Research raised shares of Nevsun Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.80%. The ex-dividend date was Thursday, December 28th. Nevsun Resources’s dividend payout ratio (DPR) is currently -23.53%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Nevsun Resources by 40.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 347,847 shares of the company’s stock valued at $849,000 after purchasing an additional 99,334 shares during the last quarter. Raffles Associates LP increased its holdings in shares of Nevsun Resources by 10.2% in the fourth quarter. Raffles Associates LP now owns 1,077,800 shares of the company’s stock valued at $2,630,000 after purchasing an additional 100,000 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Nevsun Resources by 7.7% in the fourth quarter. Bank of Montreal Can now owns 1,542,439 shares of the company’s stock valued at $3,764,000 after purchasing an additional 109,936 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Nevsun Resources by 873.9% in the fourth quarter. Virtu Financial LLC now owns 193,363 shares of the company’s stock valued at $472,000 after purchasing an additional 173,509 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Nevsun Resources in the fourth quarter valued at $441,000.
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Nevsun Resources Company Profile
Nevsun Resources Ltd. is a base metals company. The Company’s two principal properties are the Timok Project in Serbia, which hosts the copper-gold Cukaru Peki deposit on the Brestovac-Metovnica Exploration Permit (the B-M Permit) and the Bisha Property in Eritrea, which hosts the copper-zinc-gold Bisha deposit and includes satellite volcanogenic massive sulphides (VMS) deposits at Harena, Northwest, Hambok and Asheli.
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