Nexa Resources (NYSE:NEXA) Price Target Raised to $5.00

Nexa Resources (NYSE:NEXA) had its target price lifted by Scotiabank from $4.50 to $5.00 in a report released on Wednesday morning,Benzinga reports. Scotiabank currently has a sector underperform rating on the stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets assumed coverage on Nexa Resources in a research note on Wednesday, April 16th. They issued a “market perform” rating and a $6.00 target price on the stock. Bank of America reduced their target price on shares of Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Monday, March 10th.

Nexa Resources Price Performance

Shares of NEXA opened at $5.20 on Wednesday. The business’s 50-day moving average is $5.75 and its 200-day moving average is $6.55. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The company has a market capitalization of $688.68 million, a price-to-earnings ratio of -3.38 and a beta of 1.05. Nexa Resources has a fifty-two week low of $5.04 and a fifty-two week high of $9.61.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The company had revenue of $627.12 million for the quarter, compared to analysts’ expectations of $635.17 million. Equities research analysts expect that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP boosted its position in Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 628,414 shares of the company’s stock after buying an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent reporting period.

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.