Price Action Report: Could Nevsun Resources (USA) Gain Strenght? The Stock Reaches 52 Week Low

Price Action Report: Could Nevsun Resources (USA) Gain Strenght? The Stock Reaches 52 Week Low

The stock of Nevsun Resources (USA) (NYSEMKT:NSU) is a huge mover today! About 568,330 shares traded hands. Nevsun Resources (USA) (NYSEMKT:NSU) has declined 6.91% since April 14, 2016 and is downtrending. It has underperformed by 11.59% the S&P500.
The move comes after 7 months negative chart setup for the $914.87M company. It was reported on Nov, 16 by Barchart.com. We have $2.82 PT which if reached, will make NYSEMKT:NSU worth $45.74 million less.

Nevsun Resources (USA) (NYSEMKT:NSU) Ratings Coverage

Out of 4 analysts covering Nevsun Resources (NYSEMKT:NSU), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Nevsun Resources has been the topic of 7 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Raymond James maintained Nevsun Resources (USA) (NYSEMKT:NSU) on Thursday, September 3 with “Outperform” rating. As per Friday, December 4, the company rating was downgraded by Raymond James.

According to Zacks Investment Research, “NEVSUN RESOURCES LTD., is a natural resource company engaged in the acquisition, exploration, development and production of mineral properties. The Company’s portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources/reserves. The Company’s principal mineral properties are the Bisha property located in Eritrea, North-East Africa.”

More notable recent Nevsun Resources (USA) (NYSEMKT:NSU) news were published by: Theguardian.com which released: “Canadian firm faces new forced labour claims over Eritrean mine” on October 14, 2016, also Fool.com with their article: “Can We Bank on Nevsun’s 4% Dividend Yield?” published on June 25, 2014, Theguardian.com published: “Eritreans sue Canadian mining firm Nevsun over human rights abuses” on December 09, 2014. More interesting news about Nevsun Resources (USA) (NYSEMKT:NSU) were released by: Business.Financialpost.com and their article: “Nevsun Resources Ltd describes reported attack on Eritrea mine as ‘act of …” published on March 23, 2015 as well as Profitconfidential.com‘s news article titled: “Gold Stocks: The Top 9 Gold Stocks for 2016” with publication date: June 02, 2016.

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