TD Securities Raises Nevsun Resources (NSU) to Buy

November 29, 2013 7:04 AM EST
Get Alerts NSU Hot Sheet
Price: $4.44 --0%

Rating Summary:
    3 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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TD Securities upgraded Nevsun Resources (NYSE: NSU) from Hold to Buy with a price target of C$4.50 (from C$4.00). Analyst Craig Hutchison has increased confidence the company will hit productin guidance.

"Earlier this week, we had an opportunity to visit Nevsun’s Bisha project (60% ownership) in Eritrea," said Hutchison. "We came away from the tour with confidence that the company will meet its 2013 production guidance of 30–50mmlb and achieve commercial production of the copper plant by year-end. Furthermore, following the trip, we have an increased level of comfort with Eritrea as a mining jurisdiction having seen the operation and transportation logistics firsthand."

For an analyst ratings summary and ratings history on Nevsun Resources click here. For more ratings news on Nevsun Resources click here.

Shares of Nevsun Resources closed at $3.02 yesterday.


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