Nexa Resources (NYSE:NEXA) PT Lowered to $6.00

Nexa Resources (NYSE:NEXA) had its price target trimmed by Scotiabank from $7.00 to $6.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a sector underperform rating on the stock.

Several other brokerages have also commented on NEXA. Bank of America boosted their price target on shares of Nexa Resources from $7.50 to $8.00 and gave the stock an underperform rating in a report on Wednesday, June 26th. BMO Capital Markets upped their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the stock an outperform rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley raised their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an underweight rating in a research note on Friday, June 21st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $7.08.

Nexa Resources Stock Performance

Shares of NYSE:NEXA traded up $0.04 during trading on Tuesday, hitting $6.35. 20,474 shares of the stock traded hands, compared to its average volume of 32,791. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average price of $7.52 and a two-hundred day moving average price of $7.31. Nexa Resources has a 52-week low of $4.82 and a 52-week high of $8.09. The company has a market cap of $840.99 million, a price-to-earnings ratio of -2.88, a P/E/G ratio of 0.30 and a beta of 1.51.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Nexa Resources had a negative net margin of 10.30% and a negative return on equity of 4.00%. The firm had revenue of $736.31 million during the quarter, compared to analysts’ expectations of $674.20 million. During the same period in the previous year, the firm posted $0.04 EPS. As a group, equities analysts predict that Nexa Resources will post 0.5 EPS for the current year.

Institutional Trading of Nexa Resources

A number of hedge funds have recently bought and sold shares of NEXA. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Nexa Resources in the first quarter valued at approximately $8,004,000. Dimensional Fund Advisors LP raised its holdings in shares of Nexa Resources by 11.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock worth $4,538,000 after acquiring an additional 63,197 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Nexa Resources by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock valued at $2,611,000 after acquiring an additional 12,092 shares during the last quarter.

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.