Zacks: Brokerages Set $20.80 Target Price for Nexa Resources S.A. (NEXA)
Shares of Nexa Resources S.A. (NYSE:NEXA) have received an average broker rating score of 1.38 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and three have issued a strong buy rating on the company.
Brokers have set a twelve-month consensus price objective of $20.80 for the company, according to Zacks. Zacks has also assigned Nexa Resources an industry rank of 83 out of 265 based on the ratings given to its competitors.
A number of research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Nexa Resources in a research note on Tuesday, November 21st. They issued an “overweight” rating and a $18.60 price objective for the company. Citigroup Inc. assumed coverage on shares of Nexa Resources in a research note on Tuesday, November 21st. They issued a “buy” rating and a $19.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Nexa Resources in a research note on Tuesday, November 21st. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, J P Morgan Chase & Co assumed coverage on shares of Nexa Resources in a research note on Tuesday, November 21st. They issued an “overweight” rating and a $23.00 price objective for the company.
Shares of Nexa Resources (NYSE NEXA) traded up $0.35 during mid-day trading on Thursday, hitting $16.63. 154,479 shares of the stock traded hands, compared to its average volume of 617,634. Nexa Resources has a 12 month low of $15.27 and a 12 month high of $18.65.
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About Nexa Resources
Nexa Resources SA, formerly VM Holding SA, is a Luxembourg-based company engaged in the mineral resources industry. The Company is a metals and mining entity mainly engaged in zinc content production, and whose product portfolio also includes copper, lead, silver and gold. Its mining and smelting presence is located in Brazil, conducted by Votorantim Metais Zinco SA, and in Peru, conducted by Compania Minera Milpo SAA, and Votorantim Metais-Cajamarquilla SA.
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