Scotiabank Raises Nexa Resources (NYSE:NEXA) Price Target to $7.00

Nexa Resources (NYSE:NEXA) had its price target increased by Scotiabank from $5.75 to $7.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector underperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 5.74% from the company’s previous close.

Separately, Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.56.

Nexa Resources Stock Performance

Nexa Resources stock opened at $6.62 on Monday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The company has a market capitalization of $876.75 million, a PE ratio of -4.38 and a beta of 1.48. The company has a 50 day moving average price of $7.94 and a 200-day moving average price of $7.39. Nexa Resources has a fifty-two week low of $5.10 and a fifty-two week high of $9.61.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP lifted its stake in Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 593,983 shares of the company’s stock after purchasing an additional 63,197 shares during the quarter. Dimensional Fund Advisors LP owned about 0.45% of Nexa Resources worth $4,538,000 at the end of the most recent reporting period.

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.