Shares of Nexa Resources S.A. (NYSE:NEXA – Get Free Report) have been given an average recommendation of “Reduce” by the five research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $6.00.
Several research firms have recently issued reports on NEXA. JPMorgan Chase & Co. raised their price target on Nexa Resources from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Scotiabank downgraded Nexa Resources from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $5.00 to $4.50 in a research report on Wednesday, November 1st.
Nexa Resources Trading Up 0.1 %
Hedge Funds Weigh In On Nexa Resources
Several institutional investors have recently bought and sold shares of NEXA. Tower Research Capital LLC TRC boosted its position in Nexa Resources by 2,954.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,185 shares of the company’s stock valued at $26,000 after buying an additional 4,048 shares during the period. UBS Group AG acquired a new position in Nexa Resources during the 3rd quarter valued at approximately $42,000. Virtu Financial LLC acquired a new position in Nexa Resources during the 2nd quarter valued at approximately $58,000. WINTON GROUP Ltd acquired a new stake in shares of Nexa Resources in the second quarter worth $61,000. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Nexa Resources in the third quarter worth $63,000.
Nexa Resources Company Profile
Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business. The company operates through 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 cement, silver concentrate, and cadmium/sponge deposits.
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