Nexa Resources (NYSE:NEXA) Price Target Raised to $14.00 at Bank of America

Nexa Resources (NYSE:NEXA) had its price objective hoisted by Bank of America from $12.00 to $14.00 in a report published on Thursday morning,Benzinga reports. They currently have an underperform rating on the stock.

Several other research firms have also commented on NEXA. Scotiabank raised their target price on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday. Morgan Stanley boosted their price target on Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Citigroup lifted their target price on shares of Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.00.

Nexa Resources Trading Up 4.6%

NEXA opened at $13.46 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 0.29 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. Nexa Resources has a 12 month low of $4.61 and a 12 month high of $16.89. The stock has a fifty day moving average price of $13.97 and a 200-day moving average price of $12.45.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The company had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. As a group, equities research analysts anticipate that Nexa Resources will post 2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sagil Capital LLP purchased a new position in shares of Nexa Resources during the 4th quarter worth approximately $11,651,000. Marshall Wace LLP purchased a new position in shares of Nexa Resources during the fourth quarter worth $8,653,000. Pictet Asset Management Holding SA purchased a new position in shares of Nexa Resources during the first quarter worth $7,572,000. Walleye Capital LLC acquired a new stake in shares of Nexa Resources in the fourth quarter valued at $4,628,000. Finally, Renaissance Technologies LLC grew its stake in shares of Nexa Resources by 120.8% in the fourth quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock valued at $7,547,000 after buying an additional 466,500 shares in the last quarter.

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.