Scotiabank Cuts Nexa Resources (NYSE:NEXA) Price Target to $5.75

Nexa Resources (NYSE:NEXA) had its target price decreased by Scotiabank from $6.00 to $5.75 in a research report report published on Monday morning, Benzinga reports. Scotiabank currently has a sector underperform rating on the stock.

Nexa Resources Price Performance

NEXA stock opened at $7.74 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. Nexa Resources has a fifty-two week low of $5.10 and a fifty-two week high of $8.09. The business has a 50-day moving average of $7.15 and a 200-day moving average of $7.29.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nexa Resources in the first quarter valued at $8,004,000. Dimensional Fund Advisors LP lifted its stake in Nexa Resources by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock valued at $4,538,000 after purchasing an additional 63,197 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Nexa Resources by 3.7% during the second quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock worth $2,611,000 after purchasing an additional 12,092 shares during the period.

About Nexa Resources

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.