Nexa Resources (NYSE:NEXA) Price Target Lowered to $6.00 at Scotiabank

Nexa Resources (NYSE:NEXA) had its price target lowered by analysts at Scotiabank from $7.00 to $6.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “sector underperform” rating on the stock. Scotiabank’s price target points to a potential downside of 11.37% from the stock’s current price.

NEXA has been the topic of several other reports. BMO Capital Markets upped their price objective on Nexa Resources from $7.00 to $7.50 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Bank of America raised their price objective on Nexa Resources from $7.50 to $8.00 and gave the stock an “underperform” rating in a report on Wednesday, June 26th. Finally, Morgan Stanley increased their target price on Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a research note on Friday, June 21st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.08.

Nexa Resources Trading Down 2.0 %

Shares of NYSE:NEXA traded down $0.14 during trading on Tuesday, reaching $6.77. The company had a trading volume of 4,306 shares, compared to its average volume of 32,794. The company has a current ratio of 0.98, a quick ratio of 0.63 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average price is $7.62 and its 200 day moving average price is $7.32. Nexa Resources has a fifty-two week low of $4.82 and a fifty-two week high of $8.09.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Nexa Resources had a negative return on equity of 4.00% and a negative net margin of 10.30%. The business had revenue of $736.31 million for the quarter, compared to analyst estimates of $674.20 million. During the same period in the prior year, the company earned $0.04 EPS. Analysts anticipate that Nexa Resources will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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.