Cormark Comments on Nevsun Resources’ FY2018 Earnings (NSU)

Nevsun Resources (NYSEAMERICAN:NSU) – Analysts at Cormark issued their FY2018 EPS estimates for shares of Nevsun Resources in a research note issued to investors on Monday. Cormark analyst S. Ioannou expects that the company will post earnings of $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 equities research analysts have also recently commented on NSU. Macquarie upgraded Nevsun Resources from a “neutral” rating to an “outperform” rating in a report on Monday, November 13th. Zacks Investment Research upgraded Nevsun Resources from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Friday, January 12th.

Nevsun Resources (NYSEAMERICAN NSU) traded down $0.05 on Tuesday, hitting $2.22. The company had a trading volume of 627,879 shares, compared to its average volume of 778,353. The firm has a market cap of $674.70, a PE ratio of -13.35 and a beta of 0.73. Nevsun Resources has a 1-year low of $1.96 and a 1-year high of $3.13.

A number of large investors have recently made changes to their positions in NSU. Millennium Management LLC lifted its stake in shares of Nevsun Resources by 13.8% during the 4th quarter. Millennium Management LLC now owns 486,104 shares of the company’s stock worth $1,186,000 after purchasing an additional 58,765 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Nevsun Resources during the 4th quarter worth $139,000. Two Sigma Investments LP purchased a new position in shares of Nevsun Resources during the 4th quarter worth $718,000. Two Sigma Advisers LP lifted its stake in shares of Nevsun Resources by 39.2% during the 4th quarter. Two Sigma Advisers LP now owns 170,531 shares of the company’s stock worth $416,000 after purchasing an additional 48,000 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Nevsun Resources by 39.6% during the 4th quarter. Deutsche Bank AG now owns 1,365,377 shares of the company’s stock worth $3,331,000 after purchasing an additional 387,003 shares during the period.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Thursday, December 28th. Nevsun Resources’s dividend payout ratio (DPR) is presently -23.53%.

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About Nevsun Resources

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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