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

Nexa Resources (NYSE:NEXA) had its price target raised by JPMorgan Chase & Co. from $7.00 to $7.50 in a research report report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Nexa Resources Price Performance

Shares of NYSE:NEXA opened at $7.16 on Tuesday. The stock has a 50 day moving average of $7.00 and a 200 day moving average of $6.44. Nexa Resources has a 12-month low of $4.14 and a 12-month high of $7.62. The company has a current ratio of 0.99, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. Nexa Resources had a negative net margin of 11.24% and a negative return on equity of 3.42%. The business had revenue of $629.90 million during the quarter, compared to analyst estimates of $593.27 million. Sell-side analysts expect that Nexa Resources will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

Several large investors have recently made changes to their positions in NEXA. Marshall Wace LLP bought a new stake in shares of Nexa Resources during the third quarter valued at approximately $1,802,000. Jane Street Group LLC bought a new stake in shares of Nexa Resources in the third quarter valued at about $972,000. Goldman Sachs Group Inc. lifted its stake in Nexa Resources by 1,055.0% in the second quarter. Goldman Sachs Group Inc. now owns 185,396 shares of the company’s stock worth $901,000 after acquiring an additional 169,345 shares during the period. Bank of Montreal Can purchased a new position in Nexa Resources during the 1st quarter valued at about $1,508,000. Finally, BlackRock Inc. raised its holdings in shares of Nexa Resources by 495.8% in the 1st quarter. BlackRock Inc. now owns 147,546 shares of the company’s stock valued at $927,000 after purchasing an additional 122,783 shares in 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.