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

Nexa Resources (NYSE:NEXA) had its price objective lowered by investment analysts at Scotiabank to $14.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 46.08% from the stock’s previous close.

NEXA has been the subject of several other research reports. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Wall Street Zen raised Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 1st. JPMorgan Chase & Co. lifted their target price on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Citigroup boosted their target price on Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. 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, Nexa Resources presently has a consensus rating of “Hold” and a consensus target price of $9.20.

Nexa Resources Price Performance

NEXA stock opened at $9.58 on Monday. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $14.94. The firm has a market capitalization of $1.27 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.12 and a beta of 0.53. The company has a fifty day simple moving average of $11.96 and a two-hundred day simple moving average of $8.47. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.28.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after buying an additional 26,829 shares during the period. Millennium Management LLC boosted its holdings in Nexa Resources by 249.4% during the 4th 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. Goldman Sachs Group Inc. purchased a new position in Nexa Resources during the 4th quarter valued at $1,984,000. Jump Financial LLC bought a new position in Nexa Resources in the 4th quarter valued at $1,937,000. Finally, Russell Investments Group Ltd. bought a new position in Nexa Resources in the 4th quarter valued at $404,000.

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.