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

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

Nexa Resources Stock Performance

NYSE:NEXA opened at $7.16 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.99 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $7.00 and its 200 day simple moving average is $6.44. Nexa Resources has a 52-week low of $4.14 and a 52-week high of $7.62.

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

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in Nexa Resources during the first quarter worth approximately $1,508,000. BlackRock Inc. increased its holdings in shares of Nexa Resources by 138.4% in the first quarter. BlackRock Inc. now owns 33,620 shares of the company’s stock valued at $314,000 after purchasing an additional 19,516 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Nexa Resources by 9.2% in the 1st quarter. Renaissance Technologies LLC now owns 502,700 shares of the company’s stock valued at $4,695,000 after acquiring an additional 42,500 shares during the period. Invesco Ltd. bought a new stake in shares of Nexa Resources during the first quarter worth approximately $545,000. Finally, State Street Corp grew its position in shares of Nexa Resources by 23.9% in the first quarter. State Street Corp now owns 70,716 shares of the company’s stock valued at $660,000 after purchasing an additional 13,629 shares during the last quarter.

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.