Nexa Resources (NYSE:NEXA) Price Target Raised to $7.50

Nexa Resources (NYSE:NEXA) had its target price boosted by BMO Capital Markets from $7.00 to $7.50 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also commented on the company. Scotiabank raised their price target on Nexa Resources from $4.50 to $6.00 and gave the company a sector underperform rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised their price target on Nexa Resources from $7.00 to $7.50 and gave the company a neutral rating in a report on Tuesday, March 26th.

Nexa Resources Price Performance

Nexa Resources stock opened at $7.90 on Tuesday. The stock has a 50 day moving average of $7.36 and a 200-day moving average of $6.85. Nexa Resources has a 52 week low of $4.14 and a 52 week high of $7.94. The company has a current ratio of 0.98, a quick ratio of 0.63 and a debt-to-equity ratio of 1.14.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. The firm had revenue of $579.78 million for the quarter, compared to the consensus estimate of $587.03 million. Equities analysts expect that Nexa Resources will post 0.37 earnings per share 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 stake in Nexa Resources S.A. (NYSE:NEXA) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.