Analysts Set Nexa Resources S.A. (NYSE:NEXA) Price Target at $7.10

Nexa Resources S.A. (NYSE:NEXA) has been given a consensus recommendation of “Reduce” by the six research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $7.25.

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Morgan Stanley upped their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a research report on Friday, June 21st. Scotiabank lifted their target price on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector underperform” rating in a research report on Thursday, May 30th. BMO Capital Markets increased their price target on Nexa Resources from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, Bank of America lifted their price objective on Nexa Resources from $7.50 to $8.00 and gave the stock an “underperform” rating in a report on Wednesday, June 26th.

Nexa Resources Price Performance

Shares of NYSE NEXA opened at $7.64 on Wednesday. The stock has a fifty day moving average price of $7.60 and a 200 day moving average price of $7.21. 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.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, May 2nd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The company had revenue of $579.78 million for the quarter, compared to analysts’ expectations of $587.03 million. Nexa Resources had a negative net margin of 11.81% and a negative return on equity of 4.82%. On average, analysts expect that Nexa Resources will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Nexa Resources S.A. (NYSE:NEXA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.