Nevsun Resources (NYSEAMERICAN:NSU) issued its earnings results on Thursday. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07), Fidelity Earnings reports. Nevsun Resources had a negative return on equity of 18.80% and a negative net margin of 43.87%. The firm had revenue of $71.61 million for the quarter.
NSU traded up $0.02 during trading hours on Friday, hitting $4.45. 20,378 shares of the company’s stock were exchanged, compared to its average volume of 843,563. Nevsun Resources has a 12-month low of $1.98 and a 12-month high of $4.53.
A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of Nevsun Resources from a “d+” rating to a “c-” rating in a research note on Tuesday, July 31st. Canaccord Genuity downgraded shares of Nevsun Resources from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research raised shares of Nevsun Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, Scotiabank downgraded shares of Nevsun Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $2.75.
Nevsun Resources Ltd. engages in the mining and development of mineral properties in Europe, Africa, and North America. It explores for gold, copper, zinc, and silver deposits. The company's principal assets include Timok project, a copper-gold development project in Serbia; and Bisha copper- zinc mine in Eritrea.
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