BMO Capital Markets Cuts Nexa Resources (NYSE:NEXA) Price Target to $7.00

Nexa Resources (NYSE:NEXA) had its price target trimmed by BMO Capital Markets from $7.50 to $7.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a market perform rating on the stock.

Several other equities research analysts also recently commented on NEXA. JPMorgan Chase & Co. upped their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the company a neutral rating in a research note on Tuesday, March 26th. Scotiabank upped their price objective on shares of Nexa Resources from $4.50 to $6.00 and gave the company a sector underperform rating in a research report on Tuesday, April 9th.

Nexa Resources Stock Up 1.0 %

Shares of Nexa Resources stock traded up $0.07 during trading on Friday, reaching $7.40. 9,990 shares of the company were exchanged, compared to its average volume of 37,326. The business has a 50-day moving average price of $7.19 and a 200-day moving average price of $6.67. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. Nexa Resources has a twelve month low of $4.14 and a twelve month high of $7.62.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Wednesday, February 21st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. The firm had revenue of $629.90 million for the quarter, compared to analysts’ expectations of $593.27 million. Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. On average, equities analysts predict that Nexa Resources will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 8.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 994,351 shares of the company’s stock after acquiring an additional 80,309 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Nexa Resources were worth $6,016,000 at the end of the most recent reporting period.

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.