Nexa Resources (NYSE:NEXA) Price Target Raised to $13.00

Nexa Resources (NYSE:NEXA) had its price target raised by Citigroup from $5.50 to $13.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued research reports about the stock. Scotiabank reissued a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Wall Street Zen upgraded shares of Nexa Resources to a “buy” rating in a report on Saturday, November 1st. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the stock an “underweight” rating in a report on Monday, December 15th. JPMorgan Chase & Co. lifted their price target on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $7.74.

Nexa Resources Price Performance

NYSE:NEXA opened at $11.79 on Tuesday. The company has a 50 day moving average price of $9.96 and a 200-day moving average price of $6.90. Nexa Resources has a 1-year low of $4.44 and a 1-year high of $14.94. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in Nexa Resources by 283.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock valued at $390,000 after purchasing an additional 32,581 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Nexa Resources in the third quarter valued at approximately $134,000. Millennium Management LLC raised its holdings in Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after acquiring an additional 40,535 shares in the last quarter. Citadel Advisors LLC lifted its stake in Nexa Resources by 142.4% in the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after acquiring an additional 35,411 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Nexa Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares in the last quarter.

About Nexa Resources

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.