BMO Capital Markets Raises Nexa Resources (NYSE:NEXA) Price Target to $7.50

Nexa Resources (NYSE:NEXA) had its price objective lifted by BMO Capital Markets from $7.00 to $7.50 in a research report released on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

NEXA has been the subject of a number of other research reports. Scotiabank raised their price target on shares of Nexa Resources from $4.50 to $6.00 and gave the stock a sector underperform rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on Nexa Resources from $7.00 to $7.50 and gave the company a neutral rating in a research note on Tuesday, March 26th.

Nexa Resources Price Performance

Shares of NEXA opened at $7.79 on Tuesday. The stock’s 50-day moving average price is $7.35 and its 200 day moving average price is $6.84. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.63 and a current ratio of 0.98. Nexa Resources has a 12-month low of $4.14 and a 12-month high of $7.92.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Wednesday, February 21st. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.08. The firm had revenue of $629.90 million during the quarter, compared to analysts’ expectations of $593.27 million. Nexa Resources had a negative return on equity of 4.82% and a negative net margin of 11.81%. On average, analysts predict that Nexa Resources will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 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.