Scotiabank Issues Pessimistic Forecast for Nexa Resources (NYSE:NEXA) Stock Price

Nexa Resources (NYSE:NEXA) had its price target dropped by research analysts at Scotiabank from $5.00 to $4.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sector underperform” rating on the stock. Scotiabank’s price objective would indicate a potential downside of 27.59% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Bank of America lowered their target price on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating on the stock in a research report on Monday, March 10th.

Nexa Resources Stock Performance

Nexa Resources stock traded down $0.04 during mid-day trading on Monday, reaching $6.22. 61,325 shares of the stock traded hands, compared to its average volume of 48,013. Nexa Resources has a 12-month low of $3.00 and a 12-month high of $9.61. The business’s 50-day moving average is $5.69 and its 200-day moving average is $6.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The stock has a market capitalization of $823.11 million, a PE ratio of -4.04 and a beta of 1.09.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of $0.20 by ($1.20). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The business had revenue of $740.92 million for the quarter, compared to analysts’ expectations of $731.81 million. As a group, sell-side analysts predict that Nexa Resources will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC bought a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,341 shares of the company’s stock, valued at approximately $126,000.

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.