JPMorgan Chase & Co. Boosts Nexa Resources (NYSE:NEXA) Price Target to $7.50

Nexa Resources (NYSE:NEXA) had its price target upped by JPMorgan Chase & Co. from $7.00 to $7.50 in a report released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Nexa Resources Price Performance

Shares of NYSE:NEXA opened at $7.16 on Tuesday. The company has a 50-day simple moving average of $7.01 and a 200-day simple moving average of $6.45. Nexa Resources has a one year low of $4.14 and a one year high of $7.62. The company has a quick ratio of 0.67, a current ratio of 0.99 and a debt-to-equity ratio of 1.09.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NEXA. Dimensional Fund Advisors LP grew its position in Nexa Resources by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 434,534 shares of the company’s stock worth $3,102,000 after buying an additional 25,360 shares during the period. UBS Group AG acquired a new position in Nexa Resources during the third quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. grew its position in 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 worth $6,016,000 after buying an additional 80,309 shares during the period. Goldman Sachs Group Inc. grew its position in Nexa Resources by 1,055.0% during the second quarter. Goldman Sachs Group Inc. now owns 185,396 shares of the company’s stock worth $901,000 after buying an additional 169,345 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Nexa Resources during the second quarter worth about $61,000.

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.