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

Nexa Resources (NYSE:NEXA) had its target price decreased by Bank of America from $8.00 to $6.50 in a research note issued to investors on Monday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

NEXA has been the topic of several other research reports. Scotiabank dropped their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a report on Friday, February 7th. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Nexa Resources presently has a consensus rating of “Hold” and an average price target of $6.86.

Nexa Resources Stock Down 6.1 %

NEXA stock opened at $5.24 on Monday. The firm has a 50 day simple moving average of $6.09 and a 200 day simple moving average of $6.98. The firm has a market cap of $693.98 million, a PE 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. Nexa Resources has a 12 month low of $5.05 and a 12 month high of $9.61.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data 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). The business had revenue of $740.92 million during the quarter, compared to analysts’ expectations of $731.81 million. Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. Equities research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,341 shares of the company’s stock, valued at approximately $126,000.

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.