UPDATE: Macquarie Upgrades Nevsun Resources (NSU) to Outperform
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(Updated - November 13, 2017 7:34 AM EST)
(updated to add analyst comment)
Macquarie upgraded Nevsun Resources (NYSE: NSU) from Neutral to Outperform.
Analyst Matt Murphy is incrementally more positive on the company after visiting it's Timok copper project in Serbia noting increase conviction on the investment and better confidence regarding key assumptions made in the preliminary economic assessment. The analyst believes the high IRR at 40%, NPV and sub-2-year payback makes the project valuable.
Shares of Nevsun Resources closed at $2.37 Friday.
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