Brokerages Set Nexa Resources S.A. (NYSE:NEXA) PT at $7.10

Shares of Nexa Resources S.A. (NYSE:NEXA) have received an average recommendation of “Reduce” from the six ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.25.

A number of equities research analysts have recently issued reports on NEXA shares. JPMorgan Chase & Co. increased their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Bank of America raised their target price on shares of Nexa Resources from $7.50 to $8.00 and gave the company an “underperform” rating in a research note on Wednesday. BMO Capital Markets raised their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Morgan Stanley increased their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a research report on Friday, June 21st. Finally, Scotiabank raised their target price on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector underperform” rating in a report on Thursday, May 30th.

Nexa Resources Price Performance

NYSE NEXA opened at $7.63 on Wednesday. Nexa Resources has a 52 week low of $4.14 and a 52 week high of $8.09. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. The firm’s 50-day simple moving average is $7.60 and its two-hundred day simple moving average is $7.19.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. The firm had revenue of $579.78 million during the quarter, compared to analysts’ expectations of $587.03 million. Research analysts predict that Nexa Resources will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Nexa Resources S.A. (NYSE:NEXA) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

About Nexa Resources

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.