Raffles Associates Lp buys $2.6 Million stake in Nevsun Resources (USA) (NSU)

Nevsun Resources (USA) (NSU) : Raffles Associates Lp scooped up 25,000 additional shares in Nevsun Resources (USA) during the Q4 period, according to a recent disclosure to the SEC. The investment management firm now holds a total of 752,800 shares of Nevsun Resources (USA) which is valued at $2.6 Million.Nevsun Resources (USA) makes up approximately 2.98% of Raffles Associates Lp’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in NSU during the Q4 period, The investment management firm added 31,228 additional shares and now holds a total of 2,348,875 shares of Nevsun Resources (USA) which is valued at $8.1 Million. Nevsun Resources (USA) makes up approx 0.01% of Manufacturers Life Insurance Company The’s portfolio.Visium Asset Management Lp boosted its stake in NSU during the Q4 period, The investment management firm added 304,147 additional shares and now holds a total of 1,202,547 shares of Nevsun Resources (USA) which is valued at $4.1 Million. Nevsun Resources (USA) makes up approx 0.08% of Visium Asset Management Lp’s portfolio.Connor Clark Lunn Investment Management Ltd. boosted its stake in NSU during the Q4 period, The investment management firm added 158,361 additional shares and now holds a total of 1,100,416 shares of Nevsun Resources (USA) which is valued at $3.8 Million. Nevsun Resources (USA) makes up approx 0.03% of Connor Clark Lunn Investment Management Ltd.’s portfolio. Global X Management Co sold out all of its stake in NSU during the fourth quarter. The investment firm sold 11,625 shares of NSU which is valued $39,990.

Many Wall Street Analysts have commented on Nevsun Resources (USA). Nevsun Resources (USA) was Downgraded by Raymond James to ” Mkt Perform” on Dec 4, 2015.

Nevsun Resources (USA) closed down -0.07 points or -2.10% at $3.26 with 1,42,743 shares getting traded on Wednesday. Post opening the session at $3.32, the shares hit an intraday low of $3.26 and an intraday high of $3.37 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Nevsun Resources Ltd. (Nevsun) is engaged in the acquisition exploration development and operation of mineral property interests. The Company’s principal mining operation is the Bisha Mine and the Company’s principal mineral property is the Bisha property which is owned by Bisha Mining Share Company (BMSC). The Company’s wholly owned subsidiaries include Nevsun (Barbados) Holdings Ltd. Nevsun Africa (Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd. The Company has 60% interest in BMSC. Bisha is a volcanogenic massive sulphide (VMS) deposit located 150 kilometers west of Asmara Eritrea East Africa. The Bisha mine hosts a gold copper and zinc deposit and the overall Bisha district includes satellite VMS deposits known as Harena Northwest and Hambok. The Bisha Main deposit is located within the Bisha Mining License and the Harena satellite deposit lies in a separate mining license 6 kilometers south. Bisha Main and Harena form 100% of the mineral reserves for Bisha.

Source: Dehai News