Nexa Resources (NYSE:NEXA) Price Target Raised to $7.00

Nexa Resources (NYSE:NEXAFree Report) had its price objective raised by Scotiabank from $5.75 to $7.00 in a report released on Monday morning,Benzinga reports. Scotiabank currently has a sector underperform rating on the stock.

Separately, Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $7.50 to $7.80 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nexa Resources currently has an average rating of “Hold” and a consensus price target of $7.56.

Check Out Our Latest Report on Nexa Resources

Nexa Resources Stock Performance

Shares of Nexa Resources stock opened at $6.92 on Monday. The firm has a market capitalization of $916.48 million, a P/E ratio of -4.58 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. Nexa Resources has a 52 week low of $5.10 and a 52 week high of $9.61. The firm’s 50 day moving average is $7.89 and its two-hundred day moving average is $7.38.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC lifted its holdings in shares of Nexa Resources S.A. (NYSE:NEXAFree Report) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the period. Renaissance Technologies LLC owned about 0.26% of Nexa Resources worth $2,611,000 as of its most recent SEC filing.

About Nexa Resources

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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.

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Analyst Recommendations for Nexa Resources (NYSE:NEXA)

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