Scotiabank Boosts Nexa Resources (NYSE:NEXA) Price Target to $14.50

Nexa Resources (NYSE:NEXA) had its price target lifted by stock analysts at Scotiabank from $14.00 to $14.50 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 0.66% from the stock’s current price.

A number of other brokerages also recently weighed in on NEXA. Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup lifted their price target on shares of Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.43.

Nexa Resources Stock Performance

Shares of NYSE NEXA traded up $0.68 during midday trading on Monday, reaching $14.41. The company’s stock had a trading volume of 376,010 shares, compared to its average volume of 1,025,821. Nexa Resources has a 12-month low of $4.44 and a 12-month high of $16.89. The firm has a 50 day moving average price of $13.97 and a 200-day moving average price of $11.68. The stock has a market capitalization of $1.91 billion, a P/E ratio of 9.11, a PEG ratio of 0.33 and a beta of 0.89. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The firm had revenue of $888.32 million for the quarter, compared to the consensus estimate of $885.90 million. As a group, equities analysts predict that Nexa Resources will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

A number of hedge funds have recently modified their holdings of NEXA. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $36,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $44,000. Royal Bank of Canada raised its holdings in Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after acquiring an additional 2,784 shares during the period. First Affirmative Financial Network bought a new stake in Nexa Resources during the 3rd quarter valued at $63,000. Finally, New York State Common Retirement Fund bought a new stake in Nexa Resources during the 4th quarter valued at $83,000.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.