Nexa Resources (NYSE:NEXA) Price Target Increased to $7.50 by Analysts at JPMorgan Chase & Co.

Nexa Resources (NYSE:NEXA) had its price target hoisted by JPMorgan Chase & Co. from $7.00 to $7.50 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Nexa Resources Trading Down 2.1 %

Shares of NEXA opened at $7.35 on Tuesday. The stock’s 50-day moving average price is $6.98 and its 200 day moving average price is $6.43. The company has a quick ratio of 0.67, a current ratio of 0.99 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $973.43 million, a price-to-earnings ratio of -3.36 and a beta of 1.54. Nexa Resources has a 12-month low of $4.14 and a 12-month high of $7.62.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. The business had revenue of $629.90 million for the quarter, compared to analysts’ expectations of $593.27 million. Nexa Resources had a negative return on equity of 3.42% and a negative net margin of 11.24%. As a group, research analysts predict that Nexa Resources will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Nexa Resources by 8.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 994,351 shares of the company’s stock valued at $6,016,000 after acquiring an additional 80,309 shares during the period. Two Sigma Investments LP acquired a new position in Nexa Resources in the third quarter valued at about $323,000. BlackRock Inc. increased its holdings in shares of Nexa Resources by 138.4% during the first quarter. BlackRock Inc. now owns 33,620 shares of the company’s stock worth $314,000 after buying an additional 19,516 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Nexa Resources in the third quarter valued at approximately $181,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Nexa Resources in the 1st quarter worth approximately $138,000.

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.