Nexa Resources (NYSE:NEXA) Price Target Raised to $7.00 at Scotiabank

Nexa Resources (NYSE:NEXA) had its target price boosted by analysts at Scotiabank from $5.75 to $7.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector underperform” rating on the stock. Scotiabank’s target price points to a potential downside of 1.13% from the stock’s previous close.

Separately, Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Nexa Resources presently has an average rating of “Hold” and a consensus price target of $7.56.

Nexa Resources Trading Up 0.4 %

Shares of NEXA traded up $0.03 during trading hours on Monday, hitting $7.08. The company had a trading volume of 55,088 shares, compared to its average volume of 189,919. The firm has a market cap of $937.68 million, a P/E ratio of -4.69 and a beta of 1.48. The stock’s 50 day moving average price is $7.95 and its 200 day moving average price is $7.40. 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 52-week low of $5.10 and a 52-week high of $9.61.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC raised its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 341,792 shares of the company’s stock after acquiring an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 at the end of the most recent quarter.

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.