Nexa Resources (NYSE:NEXA) Price Target Cut to $5.75 by Analysts at Scotiabank

Nexa Resources (NYSE:NEXA) had its target price lowered by Scotiabank from $6.00 to $5.75 in a research note released on Monday,Benzinga reports. The brokerage currently has a sector underperform rating on the stock.

Nexa Resources Price Performance

Shares of NEXA opened at $7.82 on Monday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The firm’s 50-day moving average is $7.19 and its two-hundred day moving average is $7.29. Nexa Resources has a twelve month low of $5.10 and a twelve month high of $8.09.

Institutional Trading of Nexa Resources

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in shares of Nexa Resources by 3.7% in the second quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock valued at $2,611,000 after purchasing an additional 12,092 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Nexa Resources by 11.9% in the second quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock valued at $4,538,000 after purchasing an additional 63,197 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Nexa Resources during the first quarter 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.