JPMorgan Chase & Co. Boosts Nexa Resources (NYSE:NEXA) Price Target to $7.50

Nexa Resources (NYSE:NEXA) had its price objective hoisted by JPMorgan Chase & Co. from $7.00 to $7.50 in a research note released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Nexa Resources Price Performance

Nexa Resources stock opened at $7.16 on Tuesday. Nexa Resources has a 1-year low of $4.14 and a 1-year high of $7.62. The firm’s fifty day moving average price is $7.01 and its two-hundred day moving average price is $6.45. The company has a quick ratio of 0.67, a current ratio of 0.99 and a debt-to-equity ratio of 1.09.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. Nexa Resources had a negative net margin of 11.24% and a negative return on equity of 3.42%. The firm had revenue of $629.90 million for the quarter, compared to analyst estimates of $593.27 million. Research analysts expect that Nexa Resources will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Nexa Resources by 2,954.7% during the first quarter. Tower Research Capital LLC TRC now owns 4,185 shares of the company’s stock valued at $26,000 after purchasing an additional 4,048 shares in the last quarter. UBS Group AG bought a new stake in Nexa Resources in the third quarter worth about $42,000. PDT Partners LLC bought a new stake in Nexa Resources in the fourth quarter worth about $69,000. Balyasny Asset Management LLC bought a new stake in Nexa Resources in the third quarter worth about $63,000. Finally, Norges Bank bought a new stake in Nexa Resources in the fourth quarter worth about $75,000.

About Nexa Resources

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.