Canaccord Genuity Thinks Nevsun Resources’ Stock is Going to Recover

Nevsun Resources (TSX: NSU), the Materials sector company was revisited on August 10, and remains undervalued for at least one analyst on the street. The company received a Buy on August 10 from Canaccord Genuity’s analyst Dalton Baretto, with a C$3.50 price target.

According to TipRanks.com, Baretto is a 4-star analyst with an average return of 17.7% and a 58.3% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Nevsun Resources Ltd, and Hudbay Minerals Inc.

Nevsun Resources has an analyst consensus of Moderate Buy, with a price target consensus of C$3.81.

Nevsun Resources’ market cap is currently C$806M and has a P/E ratio of 0.

Nevsun Resources Ltd. is a mineral resource company, which engages in the acquisition, exploration, development and production of mineral properties through its subsidiaries. its operations include Bisha Mine and Timok Project. The company was founded by Craig A. Angus and Scott Angus on July 19, 1965 and is headquartered in Vancouver, Canada.

The company’s shares closed on Friday at C$2.67, close to its 52-week high of C$4.63.

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