Citigroup Issues Positive Forecast for Nexa Resources (NYSE:NEXA) Stock Price

Nexa Resources (NYSE:NEXA) had its target price hoisted by Citigroup from $5.50 to $13.00 in a report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

NEXA has been the subject of a number of other reports. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the company an “underweight” rating in a research report on Monday, December 15th. Scotiabank reiterated a “sector perform” rating on shares of Nexa Resources in a report on Monday, January 26th. Wall Street Zen upgraded Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. raised their price target on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $7.74.

Nexa Resources Trading Up 4.3%

NYSE:NEXA opened at $13.21 on Tuesday. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $14.94. The stock’s fifty day moving average is $9.74 and its two-hundred day moving average is $6.82. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91.

Institutional Investors Weigh In On Nexa Resources

A number of large investors have recently modified their holdings of NEXA. Assenagon Asset Management S.A. increased its holdings in shares of Nexa Resources by 283.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock valued at $390,000 after acquiring an additional 32,581 shares during the last quarter. First Affirmative Financial Network purchased a new stake in shares of Nexa Resources during the 3rd quarter worth approximately $63,000. Susquehanna International Group LLP purchased a new stake in shares of Nexa Resources during the 3rd quarter worth approximately $134,000. Millennium Management LLC boosted its holdings in shares of Nexa Resources by 124.1% in the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in shares of Nexa Resources by 142.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after buying an additional 35,411 shares during the last quarter.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.