JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Nexa Resources (NYSE:NEXA) Stock

Nexa Resources (NYSE:NEXA) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $7.00 to $7.50 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 44.91% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Citigroup lifted their target price on shares of Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the stock an “underweight” rating in a research note on Monday, December 15th. Scotiabank reiterated a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Finally, Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.81.

Nexa Resources Stock Up 13.3%

Shares of NEXA stock opened at $13.62 on Thursday. The business’s fifty day moving average is $11.36 and its 200 day moving average is $7.68. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $14.94.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. The business had revenue of $903.00 million during the quarter, compared to analyst estimates of $823.27 million. Nexa Resources had a return on equity of 12.11% and a net margin of 4.42%. As a group, sell-side analysts predict that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

Hedge funds have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexa Resources in the 4th quarter worth $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources during the fourth quarter valued at $44,000. Assenagon Asset Management S.A. bought a new position in shares of Nexa Resources in the 3rd quarter valued at about $57,000. First Affirmative Financial Network bought a new stake in shares of Nexa Resources in the 3rd quarter valued at approximately $63,000. Finally, New York State Common Retirement Fund purchased a new position in Nexa Resources during the fourth quarter worth $83,000.

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.