On October 10, an analyst has provided a rating update for the Materials sector company, Nevsun Resources (TSX: NSU). Dalton Baretto, an analyst with Canaccord Genuity, has downgraded their rating on NSU to Hold on October 10 , with a C$6 price target.
According to TipRanks.com, Baretto is a 4-star analyst with an average return of 5.3% and a 43.9% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Fortuna Silver Mines, and Hecla Mining Company.
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 June 30, the company reported a quarterly GAAP net loss of C$12.09 million. In comparison, last year the company had a GAAP net loss of C$660.5K.
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.
The company’s shares closed on Friday at C$5.74, close to its 52-week high of C$5.85.