Nexa Resources (NYSE:NEXA) Price Target Raised to $7.00 at Scotiabank

Nexa Resources (NYSE:NEXA) had its price objective boosted by analysts at Scotiabank from $5.75 to $7.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector underperform” rating on the stock. Scotiabank’s price target points to a potential downside of 1.13% from the stock’s previous close.

Separately, Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.56.

Nexa Resources Price Performance

Shares of NEXA stock traded up $0.03 on Monday, reaching $7.08. The company’s stock had a trading volume of 55,088 shares, compared to its average volume of 189,919. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. Nexa Resources has a 12-month low of $5.10 and a 12-month high of $9.61. The company has a market capitalization of $937.68 million, a P/E ratio of -4.69 and a beta of 1.48. The stock’s 50 day simple moving average is $7.95 and its 200-day simple moving average is $7.40.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP raised its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 11.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 593,983 shares of the company’s stock after purchasing an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned approximately 0.45% of Nexa Resources worth $4,538,000 at the end of the most recent reporting period.

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.