Nexa Resources (NYSE:NEXA) PT Raised to $7.00

Nexa Resources (NYSE:NEXA) had its price target hoisted by Scotiabank from $6.00 to $7.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a sector underperform rating on the stock.

NEXA has been the topic of several other reports. BMO Capital Markets raised their price objective on Nexa Resources from $7.00 to $7.50 and gave the company an outperform rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. raised their price objective on Nexa Resources from $7.00 to $7.50 and gave the company a neutral rating in a research note on Tuesday, March 26th.

Nexa Resources Stock Performance

NEXA opened at $7.85 on Thursday. The firm has a market cap of $1.04 billion, a P/E ratio of -3.54, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. Nexa Resources has a 52-week low of $4.14 and a 52-week high of $8.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.63 and a current ratio of 0.98. The business’s fifty day moving average is $7.41 and its 200-day moving average is $6.94.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, May 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The company had revenue of $579.78 million for the quarter, compared to analyst estimates of $587.03 million. Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. Sell-side analysts expect that Nexa Resources will post 0.37 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

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.