Morgan Stanley lowered shares of Nexa Resources (NYSE:NEXA) from an overweight rating to an equal rating in a report released on Friday, Briefing.com Automated Import reports. The firm currently has $10.00 price objective on the stock, down from their previous price objective of $11.00.
Other equities analysts also recently issued research reports about the company. National Bank Financial upped their price objective on Nexa Resources from $14.50 to $17.00 and gave the company an outperform rating in a research note on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on Nexa Resources from $13.00 to $12.00 and set an overweight rating on the stock in a research report on Tuesday, September 3rd. Credit Suisse Group downgraded Nexa Resources from an outperform rating to a neutral rating and dropped their target price for the stock from $12.50 to $11.00 in a research report on Thursday, September 12th. Royal Bank of Canada assumed coverage on Nexa Resources in a research report on Monday, July 22nd. They set a sector perform rating and a $12.00 target price on the stock. Finally, Zacks Investment Research upgraded Nexa Resources from a strong sell rating to a hold rating in a research report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $12.35.
Nexa Resources stock traded down $0.10 during trading on Friday, hitting $9.41. The stock had a trading volume of 178,536 shares, compared to its average volume of 139,103. Nexa Resources has a 1 year low of $7.00 and a 1 year high of $13.40. The company has a quick ratio of 1.79, a current ratio of 2.22 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $9.69 and its two-hundred day moving average is $9.56. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 59.55 and a beta of 0.46.
About Nexa Resources
Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. It also produces copper, lead, silver, and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.
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