Nexa Resources S.A. (NYSE:NEXA) Receives $7.25 Average Price Target from Brokerages

Nexa Resources S.A. (NYSE:NEXA) has earned an average recommendation of “Reduce” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $7.25.

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a report on Friday, June 21st. Bank of America upped their price objective on shares of Nexa Resources from $7.50 to $8.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. BMO Capital Markets lifted their target price on Nexa Resources from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Scotiabank increased their price target on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector underperform” rating in a report on Thursday, May 30th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Nexa Resources S.A. (NYSE:NEXA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

Nexa Resources Stock Down 0.1 %

Shares of NEXA stock opened at $7.14 on Friday. The firm’s 50 day moving average price is $7.68 and its two-hundred day moving average price is $7.30. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. Nexa Resources has a 52-week low of $4.14 and a 52-week high of $8.09.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results 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). The company had revenue of $579.78 million during the quarter, compared to the consensus estimate of $587.03 million. Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. As a group, equities analysts forecast that Nexa Resources will post 0.5 EPS for the current year.

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.