Bank of America Cuts Nexa Resources (NYSE:NEXA) Price Target to $6.50

Nexa Resources (NYSE:NEXA) had its target price lowered by research analysts at Bank of America from $8.00 to $6.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price target would suggest a potential upside of 18.07% from the stock’s current price.

Several other equities research analysts have also issued reports on NEXA. Scotiabank reduced their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a report on Friday, February 7th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.86.

Nexa Resources Stock Performance

Shares of Nexa Resources stock traded down $0.08 on Monday, hitting $5.51. 10,304 shares of the company’s stock were exchanged, compared to its average volume of 49,177. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The stock has a market capitalization of $729.08 million, a PE ratio of -3.57 and a beta of 1.50. Nexa Resources has a 1 year low of $5.05 and a 1 year high of $9.61. The company has a 50-day simple moving average of $6.16 and a 200-day simple moving average of $6.99.

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 the consensus estimate of $0.20 by ($1.20). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The company had revenue of $740.92 million for the quarter, compared to analysts’ expectations of $731.81 million. As a group, equities analysts anticipate that Nexa Resources will post 1.03 EPS for the current year.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP grew its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 628,414 shares of the company’s stock after purchasing an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent reporting period.

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.