JPMorgan Chase & Co. Raises Nexa Resources (NYSE:NEXA) Price Target to $15.50

Nexa Resources (NYSE:NEXA) had its target price increased by stock analysts at JPMorgan Chase & Co. from $7.50 to $15.50 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 19.23% from the company’s previous close.

A number of other research firms have also recently commented on NEXA. Bank of America raised their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Zacks Research downgraded shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research report on Monday. Finally, Scotiabank boosted their price target on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nexa Resources presently has an average rating of “Reduce” and an average target price of $14.60.

Nexa Resources Stock Performance

Shares of Nexa Resources stock traded down $0.22 on Friday, hitting $13.00. 193,989 shares of the company’s stock were exchanged, compared to its average volume of 964,170. Nexa Resources has a 1 year low of $4.61 and a 1 year high of $16.89. The company has a 50-day simple moving average of $13.69 and a 200-day simple moving average of $12.77. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market capitalization of $1.72 billion, a PE ratio of 8.24, a PEG ratio of 0.15 and a beta of 0.94.

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

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in Nexa Resources during the second quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Nexa Resources during the 4th quarter valued at $36,000. Royal Bank of Canada lifted its position in shares of Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after purchasing an additional 2,784 shares during the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Nexa Resources during the fourth quarter valued at $44,000. Finally, New York State Common Retirement Fund purchased a new position in Nexa Resources in the 4th quarter worth about $83,000.

About Nexa Resources

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.