Raymond James Maintains a Hold Rating on Nevsun Resources (NSU)

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Nevsun Resources (NSUResearch Report). Analyst Farooq Hamed from Raymond James reiterated a Hold rating, with a C$6 price target today.

According to TipRanks.com, Hamed ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.9% and a 36.0% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as Detour Gold Corporation, Nevsun Resources Ltd, and Hudbay Minerals Inc.

Nevsun Resources has an analyst consensus of Hold, with a price target consensus of C$6.

Based on Nevsun Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$24.4 million. In comparison, last year the company had a GAAP net loss of C$50.17 million.

Nevsun Resources Ltd. is a mid-tier diversified base metals company. Through its subsidiaries, it engages in the acquisition, exploration, development, and production of mineral properties. It operates through the following segments: Europe, Africa, and North America.