Nexa Resources (NYSE:NEXA) Price Target Lowered to $4.50 at Scotiabank

Nexa Resources (NYSE:NEXA) had its price target decreased by Scotiabank from $5.00 to $4.50 in a research report report published on Monday morning,Benzinga reports. Scotiabank currently has a sector underperform rating on the stock.

Several other brokerages also recently weighed in on NEXA. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Bank of America reduced their price objective on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Monday, March 10th.

Nexa Resources Stock Performance

Shares of NYSE NEXA opened at $6.12 on Monday. The business’s 50-day simple moving average is $5.70 and its 200-day simple moving average is $6.90. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. Nexa Resources has a 52 week low of $5.04 and a 52 week high of $9.61. The firm has a market cap of $809.86 million, a price-to-earnings ratio of -3.97 and a beta of 1.09.

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

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,341 shares of the company’s stock, valued at approximately $126,000.

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.