Nexa Resources (NYSE:NEXA) Price Target Lowered to $14.00 at Scotiabank

Nexa Resources (NYSE:NEXA) had its price target decreased by Scotiabank to $14.00 in a research report released on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other analysts have also recently weighed in on the stock. Citigroup raised their price objective on shares of Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Morgan Stanley set a $7.70 target price on Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.20.

Nexa Resources Price Performance

Shares of NYSE:NEXA opened at $9.61 on Monday. The company has a 50 day moving average of $11.98 and a 200 day moving average of $8.43. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 1.28. The stock has a market cap of $1.27 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.11 and a beta of 0.53. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $14.94.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, February 26th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.15. The business had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $823.27 million. Nexa Resources had a net margin of 4.42% and a return on equity of 11.81%. As a group, sell-side analysts forecast that Nexa Resources will post 1.03 EPS for the current fiscal year.

Nexa Resources Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be given a dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources’s payout ratio is presently 13.00%.

Hedge Funds Weigh In On Nexa Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Nexa Resources in the 4th quarter worth approximately $36,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Nexa Resources during the fourth quarter valued at approximately $44,000. Assenagon Asset Management S.A. purchased a new stake in Nexa Resources in the third quarter worth $57,000. First Affirmative Financial Network purchased a new stake in Nexa Resources in the third quarter worth $63,000. Finally, New York State Common Retirement Fund bought a new position in Nexa Resources in the fourth quarter worth $83,000.

Nexa Resources Company Profile

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.