Nexa Resources (NYSE:NEXA) Price Target Lowered to $6.50 at Bank of America

Nexa Resources (NYSE:NEXA) had its price objective decreased by Bank of America from $8.00 to $6.50 in a research note issued to investors on Monday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

A number of other research analysts have also recently weighed in on NEXA. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Scotiabank dropped their price objective on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nexa Resources has an average rating of “Hold” and a consensus price target of $6.86.

Nexa Resources Price Performance

NEXA opened at $5.12 on Monday. The company’s 50 day simple moving average is $5.94 and its 200 day simple moving average is $6.95. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. Nexa Resources has a 1 year low of $5.04 and a 1 year high of $9.61. The stock has a market capitalization of $677.43 million, a PE ratio of -3.32 and a beta of 1.50.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The business had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. As a group, sell-side analysts expect that Nexa Resources will post 1.03 EPS for the current year.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC bought a new stake in Nexa Resources S.A. (NYSE:NEXA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,341 shares of the company’s stock, valued at approximately $126,000.

About Nexa Resources

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.