Nexa Resources (NYSE:NEXA - Free Report) had its price objective cut by Scotiabank from $7.00 to $5.00 in a report released on Friday morning,Benzinga reports. They currently have a sector underperform rating on the stock.
Separately, Morgan Stanley upgraded Nexa Resources from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Two equities 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 stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $7.16.
View Our Latest Research Report on Nexa Resources
Nexa Resources Stock Performance
Shares of NYSE NEXA traded down $0.21 during midday trading on Friday, hitting $5.56. 31,210 shares of the company's stock were exchanged, compared to its average volume of 51,682. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The stock's 50 day moving average price is $7.19 and its 200-day moving average price is $7.16. The firm has a market cap of $736.90 million, a P/E ratio of -3.68 and a beta of 1.45. Nexa Resources has a twelve month low of $5.10 and a twelve month high of $9.61.
Institutional Investors Weigh In On Nexa Resources
A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC bought a new position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,341 shares of the company's stock, valued at approximately $126,000.
About Nexa Resources
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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.
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