Nexa Resources (NYSE:NEXA) Given New $4.50 Price Target at Scotiabank

Nexa Resources (NYSE:NEXA - Free Report) had its target price trimmed by Scotiabank from $5.00 to $4.50 in a research note released on Monday morning,Benzinga reports. The firm currently has a sector underperform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Bank of America reduced their target price on shares of Nexa Resources from $8.00 to $6.50 and set an "underperform" rating for the company in a research report on Monday, March 10th. Morgan Stanley upgraded shares of Nexa Resources from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $7.50 to $7.80 in a report on Thursday, December 12th.

Nexa Resources Price Performance

NYSE:NEXA traded up $0.10 during trading hours on Monday, hitting $6.00. 15,149 shares of the stock were exchanged, compared to its average volume of 48,030. The firm's fifty day moving average price is $5.66 and its 200 day moving average price is $6.86. Nexa Resources has a 52-week low of $5.04 and a 52-week high of $9.61. The company has a market cap of $794.63 million, a P/E ratio of -3.90 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC bought a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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.