Nexa Resources (NYSE:NEXA) Given New $6.50 Price Target at Bank of America

Nexa Resources (NYSE:NEXA) had its price objective cut by research analysts at Bank of America from $8.00 to $6.50 in a research note issued on Monday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective suggests a potential upside of 18.07% from the stock’s current price.

Several other equities analysts have also issued reports on NEXA. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Scotiabank decreased their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Nexa Resources presently has an average rating of “Hold” and a consensus target price of $6.86.

Nexa Resources Stock Down 1.3 %

Shares of NYSE:NEXA traded down $0.08 during midday trading on Monday, reaching $5.51. The company’s stock had a trading volume of 10,304 shares, compared to its average volume of 49,177. Nexa Resources has a 12-month low of $5.05 and a 12-month high of $9.61. The firm has a market capitalization of $729.08 million, a P/E ratio of -3.57 and a beta of 1.50. The firm has a 50 day moving average of $6.16 and a 200-day moving average of $6.99. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($1.20). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The business had revenue of $740.92 million for the quarter, compared to analysts’ expectations of $731.81 million. On average, research analysts anticipate that Nexa Resources will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP raised its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 628,414 shares of the company’s stock after buying an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 as of its most recent SEC filing.

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.