Brokerages Set Nexa Resources S.A. (NYSE:NEXA) Target Price at $7.74

Nexa Resources S.A. (NYSE:NEXA) has received an average rating of “Reduce” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.7429.

Several analysts have recently commented on NEXA shares. Citigroup increased their price target on shares of Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Scotiabank reiterated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Morgan Stanley set a $7.70 target price on Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Finally, Wall Street Zen raised Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th.

Nexa Resources Stock Performance

Shares of NYSE:NEXA opened at $11.89 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $14.94. The company’s 50-day moving average price is $10.56 and its two-hundred day moving average price is $7.23.

Institutional Investors Weigh In On Nexa Resources

Several institutional investors have recently modified their holdings of NEXA. Assenagon Asset Management S.A. acquired a new position in Nexa Resources in the third quarter valued at about $57,000. GSA Capital Partners LLP raised its position in shares of Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after acquiring an additional 2,504 shares during the period. Dimensional Fund Advisors LP boosted its stake in Nexa Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares during the last quarter. Citadel Advisors LLC grew its holdings in Nexa Resources by 142.4% during the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after purchasing an additional 35,411 shares during the period. Finally, Millennium Management LLC grew its holdings in Nexa Resources by 124.1% during the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after purchasing an additional 40,535 shares during the period.

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.