Nexa Resources (NYSE:NEXA) Given New $7.50 Price Target at JPMorgan Chase & Co.

Nexa Resources (NYSE:NEXA) had its price objective upped by JPMorgan Chase & Co. from $7.00 to $7.50 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently issued reports on NEXA. Scotiabank reiterated a “sector perform” rating on shares of Nexa Resources in a report on Monday, January 26th. Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Wall Street Zen lowered shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Finally, Citigroup lifted their price objective on shares of Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.81.

Nexa Resources Price Performance

Shares of NEXA stock opened at $12.00 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91. The firm’s 50 day moving average price is $11.25 and its 200-day moving average price is $7.62. Nexa Resources has a one year low of $4.44 and a one year high of $14.94.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, February 26th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.25. Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The company had revenue of $903.00 million for the quarter, compared to analyst estimates of $823.27 million. On average, research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

Institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP increased its holdings in Nexa Resources by 7.5% in the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after buying an additional 2,504 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Nexa Resources during the 4th quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Nexa Resources in the 4th quarter valued at about $44,000. Engineers Gate Manager LP increased its holdings in shares of Nexa Resources by 69.7% in the 4th quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock valued at $155,000 after acquiring an additional 7,206 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nexa Resources during 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.