Nexa Resources (NYSE:NEXA) Price Target Raised to $15.50 at JPMorgan Chase & Co.

Nexa Resources (NYSE:NEXA) had its price target boosted by JPMorgan Chase & Co. from $7.50 to $15.50 in a research report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research analysts have also issued reports on NEXA. Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Monday, July 20th. Morgan Stanley upped their target price on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Bank of America lifted their price target on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Zacks Research lowered shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Scotiabank upped their price objective on shares of Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $14.60.

Nexa Resources Trading Down 2.7%

Shares of NEXA stock opened at $12.87 on Friday. The firm has a 50 day moving average price of $13.65 and a two-hundred day moving average price of $12.77. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $1.70 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.14 and a beta of 0.94. Nexa Resources has a 12-month low of $4.61 and a 12-month high of $16.89.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $888.32 million for the quarter, compared to analysts’ expectations of $885.90 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%. As a group, analysts predict that Nexa Resources will post 2.7 earnings per share for the current year.

Institutional Trading of Nexa Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Nexa Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after purchasing an additional 26,829 shares in the last quarter. Citadel Advisors LLC boosted its position 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 buying an additional 35,411 shares during the period. Millennium Management LLC grew its stake in shares of 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 buying an additional 40,535 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Nexa Resources during the third quarter valued at about $134,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Nexa Resources by 283.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock worth $390,000 after buying an additional 32,581 shares during the period.

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.