Nexa Resources (NYSE:NEXA) Price Target Cut to $7.00 by Analysts at BMO Capital Markets

Nexa Resources (NYSE:NEXA) had its price objective trimmed by BMO Capital Markets from $7.50 to $7.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other analysts have also weighed in on NEXA. Scotiabank lifted their target price on shares of Nexa Resources from $4.50 to $6.00 and gave the company a sector underperform rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on Nexa Resources from $7.00 to $7.50 and gave the stock a neutral rating in a report on Tuesday, March 26th.

Nexa Resources Stock Performance

NEXA traded up $0.04 on Friday, hitting $7.33. 23,289 shares of the stock traded hands, compared to its average volume of 23,499. The business has a fifty day moving average price of $7.19 and a two-hundred day moving average price of $6.66. The company has a current ratio of 0.99, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. Nexa Resources has a 52 week low of $4.14 and a 52 week high of $7.62. The firm has a market capitalization of $970.79 million, a PE ratio of -3.30, a P/E/G ratio of 0.58 and a beta of 1.53.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Wednesday, February 21st. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. Nexa Resources had a negative return on equity of 4.72% and a negative net margin of 11.81%. The business had revenue of $629.90 million during the quarter, compared to analyst estimates of $593.27 million. On average, research analysts predict that Nexa Resources will post 0.37 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,117,846 shares of the company’s stock, valued at 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.