Nexa Resources (NYSE:NEXA) Price Target Raised to $17.00

Nexa Resources (NYSE:NEXA) had its price objective boosted by equities researchers at National Bank Financial from $14.50 to $17.00 in a research note issued on Monday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 58.14% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Credit Suisse Group lowered shares of Nexa Resources from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $12.50 to $11.00 in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price objective on shares of Nexa Resources from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. BMO Capital Markets dropped their price objective on shares of Nexa Resources from $15.50 to $14.75 and set a “market perform” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada assumed coverage on shares of Nexa Resources in a research report on Monday, July 22nd. They issued a “sector perform” rating and a $12.00 price objective for the company. Finally, Zacks Investment Research raised shares of Nexa Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Nexa Resources has an average rating of “Hold” and an average target price of $13.18.

Nexa Resources stock opened at $10.75 on Monday. Nexa Resources has a 52-week low of $7.00 and a 52-week high of $13.69. The firm has a fifty day moving average of $9.62 and a 200-day moving average of $9.80. The firm has a market capitalization of $1.38 billion, a P/E ratio of 38.39, a PEG ratio of 17.40 and a beta of 0.41. The company has a quick ratio of 1.91, a current ratio of 2.39 and a debt-to-equity ratio of 0.50.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). Nexa Resources had a return on equity of 1.02% and a net margin of 2.82%. The business had revenue of $613.30 million during the quarter, compared to analyst estimates of $617.65 million. On average, research analysts expect that Nexa Resources will post 0.05 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXA. Marshall Wace North America L.P. acquired a new stake in Nexa Resources during the 1st quarter valued at $72,000. Marshall Wace LLP acquired a new stake in Nexa Resources during the 1st quarter valued at $691,000. D. E. Shaw & Co. Inc. grew its holdings in Nexa Resources by 69.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 80,668 shares of the company’s stock valued at $774,000 after purchasing an additional 33,039 shares in the last quarter. Morgan Stanley grew its holdings in Nexa Resources by 99.0% during the 2nd quarter. Morgan Stanley now owns 81,889 shares of the company’s stock valued at $785,000 after purchasing an additional 40,744 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Nexa Resources by 33.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 92,391 shares of the company’s stock valued at $910,000 after purchasing an additional 23,109 shares in the last quarter. 7.62% of the stock is owned by institutional investors and hedge funds.

Nexa Resources Company Profile

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. It also produces copper, lead, silver, and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

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