Bank of America Boosts Nexa Resources (NYSE:NEXA) Price Target to $8.00

Nexa Resources (NYSE:NEXA) had its price objective boosted by Bank of America from $7.50 to $8.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an underperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an underweight rating in a research report on Friday, June 21st. BMO Capital Markets lifted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the company an outperform rating in a research note on Tuesday, May 21st. Scotiabank lifted their price objective on shares of Nexa Resources from $6.00 to $7.00 and gave the company a sector underperform rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the company a neutral rating in a research note on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $7.25.

Nexa Resources Price Performance

Nexa Resources stock opened at $7.64 on Wednesday. Nexa Resources has a 12-month low of $4.14 and a 12-month high of $8.09. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. The company has a fifty day simple moving average of $7.60 and a 200-day simple moving average of $7.20.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). Nexa Resources had a negative net margin of 11.81% and a negative return on equity of 4.82%. The company had revenue of $579.78 million during the quarter, compared to analysts’ expectations of $587.03 million. Research analysts expect that Nexa Resources will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

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.