Nexa Resources (NYSE:NEXA) Price Target Cut to $7.00 by Analysts at BMO Capital Markets

Nexa Resources (NYSE:NEXA) had its price target cut by BMO Capital Markets from $7.50 to $7.00 in a research note published on Friday, Benzinga reports. They currently have a market perform rating on the stock.

Several other brokerages have also recently issued reports on NEXA. JPMorgan Chase & Co. increased their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a neutral rating in a report on Tuesday, March 26th. Scotiabank increased their price objective on shares of Nexa Resources from $4.50 to $6.00 and gave the company a sector underperform rating in a research note on Tuesday, April 9th.

Nexa Resources Trading Up 1.0 %

Shares of Nexa Resources stock traded up $0.07 on Friday, hitting $7.40. 9,990 shares of the company traded hands, compared to its average volume of 37,326. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.63 and a current ratio of 0.98. The stock’s 50 day moving average price is $7.19 and its 200-day moving average price is $6.67. Nexa Resources has a 52 week low of $4.14 and a 52 week high of $7.62.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Wednesday, February 21st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. The business had revenue of $629.90 million during the quarter, compared to analyst estimates of $593.27 million. As a group, analysts expect that Nexa Resources will post 0.37 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 8.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 994,351 shares of the company’s stock after acquiring an additional 80,309 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Nexa Resources were worth $6,016,000 at the end of the most recent quarter.

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.