Bank of America Cuts Nexa Resources (NYSE:NEXA) Price Target to $6.50

Nexa Resources (NYSE:NEXA - Free Report) had its price target reduced by Bank of America from $8.00 to $6.50 in a research report sent to investors on Monday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley raised shares of Nexa Resources from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Scotiabank cut their price target on shares of Nexa Resources from $7.00 to $5.00 and set a "sector underperform" rating on the stock in a report on Friday, February 7th. Two research 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, Nexa Resources has a consensus rating of "Hold" and an average target price of $6.86.

Nexa Resources Price Performance

NYSE:NEXA traded up $0.04 during trading hours on Monday, hitting $5.25. The company's stock had a trading volume of 9,392 shares, compared to its average volume of 48,848. The business's 50-day moving average is $5.86 and its two-hundred day moving average is $6.93. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The company has a market capitalization of $694.64 million, a PE ratio of -3.41 and a beta of 1.50. Nexa Resources has a 52-week low of $5.00 and a 52-week high of $9.61.

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Nexa Resources (NYSE:NEXA - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($1.20). The business had revenue of $740.92 million for the quarter, compared to analysts' expectations of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. As a group, research analysts anticipate that Nexa Resources will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC purchased a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 14,341 shares of the company's stock, valued at approximately $126,000.

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.