Scotiabank Issues Pessimistic Forecast for Nexa Resources (NYSE:NEXA) Stock Price

Nexa Resources (NYSE:NEXA) had its target price dropped by equities research analysts at Scotiabank from $14.50 to $14.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 48.56% from the company’s previous close.

A number of other brokerages have also recently commented on NEXA. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. JPMorgan Chase & Co. upped their price objective on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Citigroup lifted their target price on Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nexa Resources presently has an average rating of “Hold” and a consensus price target of $9.20.

Nexa Resources Stock Up 2.5%

Shares of NEXA stock opened at $9.42 on Monday. The firm’s fifty day moving average price is $12.01 and its two-hundred day moving average price is $8.40. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 1.28. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $14.94. The firm has a market capitalization of $1.25 billion, a P/E ratio of 9.38, a PEG ratio of 0.11 and a beta of 0.53.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, February 26th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.15. The business had revenue of $903.00 million for the quarter, compared to analyst estimates of $823.27 million. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%. On average, equities analysts predict that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A number of institutional investors have recently modified their holdings of NEXA. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Nexa Resources during the 4th quarter worth approximately $88,000. Engineers Gate Manager LP grew its position in Nexa Resources by 69.7% during the fourth quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock worth $155,000 after buying an additional 7,206 shares in the last quarter. Squarepoint Ops LLC bought a new position in Nexa Resources during the 4th quarter worth $207,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources in the 4th quarter valued at $36,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Nexa Resources during the 4th quarter valued at $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.