Nexa Resources (NYSE:NEXA) Price Target Cut to $5.75 by Analysts at Scotiabank

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

Nexa Resources Stock Performance

Shares of NEXA opened at $7.82 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The company’s 50 day simple moving average is $7.19 and its 200 day simple moving average is $7.29. Nexa Resources has a 1 year low of $5.10 and a 1 year high of $8.09.

Hedge Funds Weigh In On Nexa Resources

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake 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. Dimensional Fund Advisors LP raised its stake in Nexa Resources by 11.9% during the second quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock worth $4,538,000 after purchasing an additional 63,197 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Nexa Resources during the first quarter worth approximately $8,004,000.

Nexa Resources Company Profile

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.