Nexa Resources (NYSE:NEXA) Price Target Raised to $7.50

Nexa Resources (NYSE:NEXA) had its price target boosted by JPMorgan Chase & Co. from $7.00 to $7.50 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the company an “underweight” rating in a research report on Monday, December 15th. Citigroup increased their price objective on Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Wall Street Zen cut Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Nexa Resources currently has a consensus rating of “Hold” and a consensus price target of $7.81.

Nexa Resources Price Performance

Shares of Nexa Resources stock opened at $13.62 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $14.94. The company has a 50 day simple moving average of $11.36 and a two-hundred day simple moving average of $7.70.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. Nexa Resources had a net margin of 4.42% and a return on equity of 12.11%. The firm had revenue of $903.00 million for the quarter, compared to analyst estimates of $823.27 million. As a group, research analysts anticipate that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in shares of Nexa Resources in the fourth quarter worth approximately $645,000. Susquehanna Portfolio Strategies LLC bought a new stake in Nexa Resources in the 4th quarter worth $88,000. Quadrature Capital Ltd bought a new stake in Nexa Resources in the 4th quarter worth $394,000. Millennium Management LLC increased its position in shares of Nexa Resources by 249.4% in the fourth quarter. Millennium Management LLC now owns 255,757 shares of the company’s stock valued at $2,263,000 after acquiring an additional 182,567 shares during the period. Finally, Engineers Gate Manager LP raised its stake in shares of Nexa Resources by 69.7% during the fourth quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock valued at $155,000 after acquiring an additional 7,206 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.