Nevsun Resources Ltd. (NSU:CA) was one of the best stocks in materials sector of the S&P/TSX Composite Index on January 13, rising 2.0% to close the day at $4.59 after closing the day prior at $4.5. Throughout the day, shares of NSU:CA traded as high as $4.63 and as low as $4.51. Today’s advance came with about 1.09 million shares changing hands, compared to an average 30-day volume of 791,927 for Nevsun Resources Ltd.. The price is currently below the 30-day volume weighted average price of $4.56 for NSU:CA.
The share appreciation gives the company a market capitalization of $1.36 billion based upon 301.11 million shares outstanding. It also means that Nevsun Resources has a price-to-book ratio of 1.05:1 and a price-to-earnings ratio of 40.1:1.
In the past 52 weeks, shares of NSU:CA have traded as low as $3.27 and as high as $4.81. Technical traders will take note that at $4.59, shares of NSU:CA are trading above their 200-day MA at $4.04 and above their 50-day MA at $4.16. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is Nevsun Resources?
Nevsun Resources Ltd is a diversified mid-tier base metals company. The Company operates Bisha mine an open pit mine that produces copper concentrate for export to world markets; and also operates copper-gold Timok Project in Serbia. The company’s 1100 employees are led by CEO Clifford T. Davis from the corporate headquarters at 669 Howe Street.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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