Nexa Resources (NYSE:NEXA) Price Target Raised to $14.00 at Bank of America

Nexa Resources (NYSE:NEXA) had its price target boosted by equities researchers at Bank of America from $12.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential upside of 9.03% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley lifted their target price on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a report on Wednesday. Scotiabank upped their target price on Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Citigroup lifted their price target on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.00.

Nexa Resources Trading Down 0.4%

Shares of NYSE:NEXA opened at $12.84 on Thursday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 0.29 and a beta of 0.94. Nexa Resources has a 1-year low of $4.61 and a 1-year high of $16.89. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The company has a 50 day moving average price of $13.98 and a 200 day moving average price of $12.42.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The firm had revenue of $888.32 million for the quarter, compared to analyst estimates of $885.90 million. On average, research analysts anticipate that Nexa Resources will post 2.82 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

A number of hedge funds have recently modified their holdings of NEXA. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Nexa Resources during the fourth quarter valued at $36,000. Royal Bank of Canada boosted its position in Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after acquiring an additional 2,784 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new position in Nexa Resources during the 4th quarter valued at about $44,000. New York State Common Retirement Fund acquired a new position in shares of Nexa Resources in the 4th quarter valued at about $83,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in shares of Nexa Resources in the 4th quarter valued at about $88,000.

Nexa Resources Company Profile

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.