Bank of America Raises Nexa Resources (NYSE:NEXA) Price Target to $8.00

Nexa Resources (NYSE:NEXA) had its target price upped by Bank of America from $7.50 to $8.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an underperform rating on the stock.

NEXA has been the topic of several other research reports. BMO Capital Markets raised their price objective on Nexa Resources from $7.00 to $7.50 and gave the stock an outperform rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $7.00 to $7.50 and gave the company a neutral rating in a report on Tuesday, March 26th. Scotiabank increased their target price on Nexa Resources from $6.00 to $7.00 and gave the stock a sector underperform rating in a research note on Thursday, May 30th. Finally, Morgan Stanley upped their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an underweight rating in a report on Friday, June 21st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $7.25.

Nexa Resources Stock Down 0.5 %

Nexa Resources stock opened at $7.63 on Wednesday. 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 has a 50-day moving average of $7.60 and a 200-day moving average of $7.19. Nexa Resources has a 1 year low of $4.14 and a 1 year high of $8.09.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). The firm had revenue of $579.78 million for the quarter, compared to analyst estimates of $587.03 million. Nexa Resources had a negative net margin of 11.81% and a negative return on equity of 4.82%. As a group, sell-side analysts expect that Nexa Resources will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nexa Resources S.A. (NYSE:NEXA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 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.