Nevsun Resources (TSX: NSU) is a Vancouver, Canada-based mining company engaged in the acquisition, exploration, development and exploration of mineral property interests. The company’s principal property is the Bisha Property which hosts a gold, copper and zinc deposit, and includes satellite volcanogenic massive sulfides (VMS) deposits at Harena, Northwest, Hambok, Aderat and Asheli.
The outlook for mining stocks has improved lately as the U.S. dollar has weakened following last week’s nonfarm payrolls data. The report from the U.S. Labor Department showed that the economy added just 38,000 jobs in the month of May. The weak jobs report has delayed a possible rate hike from the Federal Reserve, which has weakened the dollar.
Nevsun could certainly see some upside in the near-term. NSU also offers an attractive dividend yield right. The stock is currently offering a dividend yield of 4.66%.
Last week, Nevsun Resources announced that its Board of Directors declared a quarterly cash dividend of US$0.04 per share. The dividend will be payable on July 8 to shareholders of record as of the close of business on June 20th, 2016. NSU has a decent track record when it comes to dividend payments although the company has had to slash its dividend from 2014 levels.
