Nexa Resources (NYSE:NEXA) Price Target Raised to $15.50

Nexa Resources (NYSE:NEXA) had its price objective upped by JPMorgan Chase & Co. from $7.50 to $15.50 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the company. Bank of America raised their price objective on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Zacks Research cut Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Citigroup increased their price target on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a research report on Monday, July 20th. Finally, Morgan Stanley raised their price target on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nexa Resources currently has a consensus rating of “Reduce” and an average target price of $14.60.

Nexa Resources Stock Down 0.0%

Shares of NYSE NEXA opened at $12.87 on Friday. Nexa Resources has a 52-week low of $4.61 and a 52-week high of $16.89. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market cap of $1.70 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.14 and a beta of 0.94. The firm has a 50 day moving average price of $13.65 and a 200 day moving average price of $12.79.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The company had revenue of $888.32 million for the quarter, compared to analyst estimates of $885.90 million. Analysts expect that Nexa Resources will post 2.7 EPS for the current year.

Institutional Investors Weigh In On Nexa Resources

Several institutional investors have recently added to or reduced their stakes in the stock. Sagil Capital LLP bought a new position in shares of Nexa Resources during the fourth quarter worth about $11,651,000. Walleye Capital LLC lifted its stake in Nexa Resources by 33.6% in the 1st quarter. Walleye Capital LLC now owns 698,458 shares of the company’s stock valued at $7,397,000 after acquiring an additional 175,477 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in Nexa Resources during the 1st quarter worth approximately $7,572,000. Nano Cap New Millennium Growth Fund L P acquired a new position in Nexa Resources during the 4th quarter worth approximately $44,000. Finally, Assenagon Asset Management S.A. boosted its position in Nexa Resources by 283.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock worth $390,000 after acquiring an additional 32,581 shares during the last quarter.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.