BMO Capital Downgrades Nevsun Resources (NSU) to Market Perform
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BMO Capital downgraded Nevsun Resources (NYSE: NSU) from Outperform to Market Perform.
Analyst Alex Terentiew says the downgrade is based on the disappointing technical report update for the Bisha mine which saw mine life reduced by more than 50% due to lower recoveries and elevated operational risks tied to open-pit expansions that were previously considered.
Shares of Nevsun Resources closed at $2.13 yesterday.
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