Royal Bank of Canada Cuts Nexa Resources (NYSE:NEXA) Price Target to $7.00

Nexa Resources (NYSE:NEXA) had its price objective cut by Royal Bank of Canada from $8.00 to $7.00 in a research note published on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

NEXA has been the subject of several other reports. BMO Capital Markets started coverage on Nexa Resources in a research report on Wednesday, April 16th. They set a “market perform” rating and a $6.00 price objective for the company. Scotiabank reiterated an “underperform” rating on shares of Nexa Resources in a research report on Wednesday, May 14th. Finally, Bank of America decreased their price target on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.46.

Nexa Resources Stock Performance

NEXA stock opened at $4.87 on Wednesday. Nexa Resources has a 1 year low of $4.76 and a 1 year high of $9.61. The stock has a market capitalization of $644.98 million, a price-to-earnings ratio of -3.16 and a beta of 1.05. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The stock’s fifty day moving average is $5.56 and its two-hundred day moving average is $6.25.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $627.12 million during the quarter, compared to analyst estimates of $635.17 million. Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. On average, research analysts predict that Nexa Resources will post 1.03 EPS for the current year.

Nexa Resources Announces Dividend

The company also recently announced a — dividend, which will be paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.1012 per share. The ex-dividend date of this dividend is Tuesday, June 10th. Nexa Resources’s payout ratio is -25.98%.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC acquired a new position in Nexa Resources S.A. (NYSE:NEXA) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 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.