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

Nexa Resources (NYSE:NEXA) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $7.50 to $15.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.48% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Scotiabank upped their price target on shares of Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Zacks Research downgraded shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Morgan Stanley boosted their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a report on Monday, July 20th. Finally, Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Monday, July 20th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nexa Resources currently has an average rating of “Reduce” and an average target price of $14.60.

Nexa Resources Stock Performance

NEXA stock opened at $12.87 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. Nexa Resources has a 1 year low of $4.61 and a 1 year high of $16.89. The company has a market cap of $1.70 billion, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 0.14 and a beta of 0.94. The stock’s fifty day moving average price is $13.65 and its 200-day moving average price is $12.77.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $888.32 million during 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%. On average, equities analysts forecast that Nexa Resources will post 2.7 earnings per share for the current year.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new position in shares of Nexa Resources during the 2nd quarter valued at about $28,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexa Resources in the 4th quarter worth approximately $36,000. Royal Bank of Canada increased its holdings in Nexa Resources by 173.8% in the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after acquiring an additional 2,784 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources in the 4th quarter worth approximately $44,000. Finally, New York State Common Retirement Fund bought a new stake in Nexa Resources during the 4th quarter worth approximately $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.