Nexa Resources (NYSE:NEXA) Price Target Raised to $7.00 at Scotiabank

Nexa Resources (NYSE:NEXA) had its price objective lifted by Scotiabank from $5.75 to $7.00 in a report released on Monday morning,Benzinga reports. They currently have a sector underperform rating on the stock.

Separately, Morgan Stanley upgraded shares of 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 note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Nexa Resources currently has an average rating of “Hold” and an average target price of $7.56.

Nexa Resources Price Performance

NEXA opened at $6.92 on Monday. Nexa Resources has a 1 year low of $5.10 and a 1 year high of $9.61. 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’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $7.38. The stock has a market capitalization of $916.48 million, a PE ratio of -4.58 and a beta of 1.48.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC lifted its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 341,792 shares of the company’s stock after acquiring an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of Nexa Resources worth $2,611,000 at the end of the most recent reporting period.

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.