Nexa Resources (NYSE:NEXA) Given New $7.00 Price Target at Scotiabank

Nexa Resources (NYSE:NEXA) had its target price increased by Scotiabank from $6.00 to $7.00 in a report released on Monday morning, MarketBeat reports. Scotiabank currently has a sector perform rating on the stock.

NEXA has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price objective on Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Morgan Stanley cut Nexa Resources from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $7.00 to $5.00 in a report on Tuesday, July 15th. Wall Street Zen raised Nexa Resources to a “buy” rating in a report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Nexa Resources in a research report on Wednesday, October 8th. Finally, Citigroup assumed coverage on Nexa Resources in a research report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 price objective for the company. Five research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $6.29.

Nexa Resources Stock Performance

Shares of NEXA stock opened at $5.68 on Monday. The stock has a market cap of $752.26 million, a PE ratio of -47.33 and a beta of 0.84. The business has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $5.12. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $9.61.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.14). The company had revenue of $763.50 million during the quarter, compared to analyst estimates of $649.86 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. On average, equities 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. Assenagon Asset Management S.A. bought a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,486 shares of the company’s stock, valued at approximately $57,000.

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.