Nexa Resources (NYSE:NEXA) PT Raised to $8.00 at Bank of America

Nexa Resources (NYSE:NEXA) had its target price raised by equities researchers at Bank of America from $7.50 to $8.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price target indicates a potential upside of 4.71% from the company’s current price.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Scotiabank boosted their price target on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector underperform” rating in a report on Thursday, May 30th. BMO Capital Markets boosted their price target on Nexa Resources from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Morgan Stanley upped their target price on Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a report on Friday, June 21st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Nexa Resources presently has a consensus rating of “Hold” and an average target price of $7.25.

Nexa Resources Stock Up 0.9 %

NYSE NEXA opened at $7.64 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.63 and a debt-to-equity ratio of 1.14. Nexa Resources has a 12-month low of $4.14 and a 12-month high of $8.09. The firm’s 50 day moving average is $7.59 and its 200-day moving average is $7.18.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. The company had revenue of $579.78 million for the quarter, compared to the consensus estimate of $587.03 million. Equities research analysts predict that Nexa Resources will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

Nexa Resources Company Profile

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.