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

Nexa Resources (NYSE:NEXA) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $7.00 to $7.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 37.50% from the company’s current price.

A number of other analysts have also recently commented on NEXA. Morgan Stanley set a $7.70 price objective on Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Scotiabank reaffirmed a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Finally, Wall Street Zen lowered shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.81.

Nexa Resources Trading Down 1.3%

Shares of NYSE:NEXA traded down $0.16 during trading on Thursday, hitting $12.00. 879,629 shares of the stock were exchanged, compared to its average volume of 804,898. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. Nexa Resources has a 12-month low of $4.44 and a 12-month high of $14.94. The company has a fifty day moving average price of $11.17 and a two-hundred day moving average price of $7.59.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.35 by $0.25. The business had revenue of $903.00 million for the quarter, compared to analyst estimates of $823.27 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. On average, research analysts expect that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A number of hedge funds have recently added to or reduced their stakes in NEXA. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Nexa Resources in the 4th quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Nexa Resources in the fourth quarter valued at approximately $44,000. New York State Common Retirement Fund bought a new stake in shares of Nexa Resources during the fourth quarter valued at approximately $83,000. Susquehanna Portfolio Strategies LLC bought a new stake in shares of Nexa Resources during the fourth quarter valued at approximately $88,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Nexa Resources during the third quarter worth approximately $57,000.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.