Bank of America Increases Nexa Resources (NYSE:NEXA) Price Target to $14.00

Nexa Resources (NYSE:NEXA) had its target price boosted by research analysts at Bank of America from $12.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would suggest a potential downside of 5.36% from the company’s current price.

Several other research firms have also recently weighed in on NEXA. Weiss Ratings reissued a “hold (c)” rating on shares of Nexa Resources in a report on Wednesday, April 22nd. Morgan Stanley increased their price target on Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup lifted their price objective on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Scotiabank upped their price objective on Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $13.00.

Nexa Resources Trading Up 9.9%

NYSE:NEXA opened at $14.79 on Thursday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 9.36, a PEG ratio of 0.15 and a beta of 0.94. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. Nexa Resources has a one year low of $4.61 and a one year high of $16.89. The company’s 50-day simple moving average is $13.98 and its 200 day simple moving average is $12.47.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The company had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. As a group, analysts forecast that Nexa Resources will post 2.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A number of hedge funds have recently made changes to their positions in the company. Sagil Capital LLP purchased a new position in shares of Nexa Resources in the 4th quarter worth $11,651,000. Marshall Wace LLP purchased a new position in Nexa Resources during the fourth quarter worth $8,653,000. Pictet Asset Management Holding SA bought a new position in Nexa Resources during the first quarter valued at $7,572,000. Walleye Capital LLC purchased a new stake in shares of Nexa Resources in the fourth quarter valued at $4,628,000. Finally, Renaissance Technologies LLC raised its stake in shares of Nexa Resources by 120.8% in the fourth quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock valued at $7,547,000 after acquiring an additional 466,500 shares during the period.

Key Nexa Resources News

Here are the key news stories impacting Nexa Resources this week:

• Positive Sentiment: Nexa was added to Zacks’ “Strong Buy” and “Best Value Stocks” lists, which can boost investor interest by reinforcing the stock’s valuation appeal and momentum. New Strong Buy Stocks for July 10th
• Positive Sentiment: Zacks also highlighted Nexa as a top value stock, suggesting the shares may still screen attractively versus peers in the mining sector. Best Value Stocks to Buy for July 10th
• Positive Sentiment: Bank of America raised its price target on Nexa to $14.00, signaling improved expectations for the company’s outlook despite keeping an underperform rating. Nexa Resources Price Target Raised to $14.00 at Bank of America
• Neutral Sentiment: Zacks Research downgraded Nexa from Strong Buy to Hold, which may temper some enthusiasm even though the stock continues to appear in other bullish screeners.
• Neutral Sentiment: Another note said Nexa expects to keep its 2026 zinc output guidance unchanged after the Cajamarquilla fire, with lost output expected to be recovered in the second half. Can NEXA Sustain Zinc Output Guidance Post Cajamarquilla Halt?
• Negative Sentiment: The downgrade to Hold introduces some caution around near-term upside and suggests analysts see less compelling momentum than before.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.