Nevsun Resources Forecasted to Earn Q1 2019 Earnings of $0.01 Per Share (NSU)

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Nevsun Resources (NYSEAMERICAN:NSU) – Investment analysts at Cormark dropped their Q1 2019 earnings per share estimates for shares of Nevsun Resources in a research note issued to investors on Monday, October 29th. Cormark analyst S. Ioannou now forecasts that the company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.02. Cormark also issued estimates for Nevsun Resources’ Q2 2019 earnings at $0.01 EPS, Q3 2019 earnings at $0.01 EPS and Q4 2019 earnings at $0.01 EPS.

Nevsun Resources (NYSEAMERICAN:NSU) last posted its quarterly earnings data on Thursday, October 25th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The firm had revenue of $71.61 million for the quarter. Nevsun Resources had a negative return on equity of 18.80% and a negative net margin of 43.87%.

Several other analysts have also issued reports on NSU. Canaccord Genuity lowered Nevsun Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded Nevsun Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, October 11th. Scotiabank lowered Nevsun Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, September 7th. Finally, TheStreet upgraded Nevsun Resources from a “d+” rating to a “c-” rating in a report on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.75.

NSU stock opened at $4.44 on Tuesday. Nevsun Resources has a fifty-two week low of $2.00 and a fifty-two week high of $4.53.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Nevsun Resources by 140.0% during the second quarter. BlackRock Inc. now owns 40,858 shares of the company’s stock worth $142,000 after acquiring an additional 23,835 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Nevsun Resources by 1.6% during the second quarter. Renaissance Technologies LLC now owns 1,801,200 shares of the company’s stock worth $6,252,000 after acquiring an additional 28,400 shares in the last quarter. Jane Street Group LLC raised its holdings in Nevsun Resources by 275.0% during the first quarter. Jane Street Group LLC now owns 52,464 shares of the company’s stock worth $125,000 after acquiring an additional 38,473 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Nevsun Resources during the second quarter worth about $237,000. Finally, ARP Americas LP bought a new stake in Nevsun Resources in the third quarter valued at approximately $832,000.

Nevsun Resources Company Profile

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.

Read More: Understanding Price to Earnings Ratio (PE)

Earnings History and Estimates for Nevsun Resources (NYSEAMERICAN:NSU)

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