Bank of America Cuts Nexa Resources (NYSE:NEXA) Price Target to $6.50

Nexa Resources (NYSE:NEXA) had its price objective lowered by Bank of America from $8.00 to $6.50 in a report issued on Monday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other equities analysts also recently weighed in on the stock. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank dropped their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.86.

Nexa Resources Stock Performance

Shares of NEXA opened at $5.12 on Monday. The company has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $6.95. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $677.43 million, a PE ratio of -3.32 and a beta of 1.50. Nexa Resources has a 52-week low of $5.04 and a 52-week high of $9.61.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, February 20th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($1.20). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The business had revenue of $740.92 million for the quarter, compared to analysts’ expectations of $731.81 million. Equities research analysts predict that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC bought a new position in Nexa Resources S.A. (NYSE:NEXA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,341 shares of the company’s stock, valued at approximately $126,000.

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.