Nexa Resources (NYSE:NEXA) Price Target Cut to $6.50 by Analysts at Bank of America

Nexa Resources (NYSE:NEXA) had its price objective reduced by Bank of America from $8.00 to $6.50 in a report released on Monday morning,Benzinga reports. They currently have an underperform rating on the stock.

Several other brokerages also recently commented on NEXA. Morgan Stanley upgraded shares of 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 report on Thursday, December 12th. Scotiabank dropped their price target on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.86.

Nexa Resources Stock Down 6.1 %

Shares of NEXA opened at $5.24 on Monday. The company has a market cap of $693.98 million, a P/E ratio of -3.40 and a beta of 1.50. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $6.09 and a two-hundred day simple moving average of $6.98. Nexa Resources has a one year low of $5.05 and a one year high of $9.61.

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

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP raised its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,414 shares of the company’s stock after buying an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 as of its most recent SEC filing.

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.