Nexa Resources (NYSE:NEXA – Free Report) had its price objective hoisted by Bank of America from $7.50 to $8.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an underperform rating on the stock.
Other equities analysts have also issued research reports about the stock. Scotiabank increased their price target 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. Morgan Stanley increased their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the stock an underweight rating in a report on Friday, June 21st. BMO Capital Markets increased their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the stock an outperform rating in a report on Tuesday, May 21st. Finally, 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. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Nexa Resources currently has an average rating of Hold and a consensus target price of $7.25.
View Our Latest Stock Report on NEXA
Nexa Resources Stock Performance
Nexa Resources (NYSE:NEXA – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). The company had revenue of $579.78 million during the quarter, compared to the consensus estimate of $587.03 million. Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. As a group, analysts expect that Nexa Resources will post 0.49 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Nexa Resources
A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Nexa Resources S.A. (NYSE:NEXA – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.
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.
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