Nexa Resources (NYSE:NEXA) has been assigned a $25.00 price objective by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 38.43% from the stock’s previous close.
A number of other research firms also recently commented on NEXA. Scotiabank dropped their price target on shares of Nexa Resources from $25.50 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Zacks Investment Research downgraded shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 1st. BMO Capital Markets restated an “outperform” rating and set a $26.00 price target (up from $23.00) on shares of Nexa Resources in a research report on Wednesday, February 21st. Finally, Credit Suisse Group restated a “buy” rating and set a $23.00 price target on shares of Nexa Resources in a research report on Sunday, February 25th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $22.66.
Nexa Resources (NEXA) traded down $0.22 during mid-day trading on Friday, hitting $18.06. 16,239 shares of the company’s stock were exchanged, compared to its average volume of 280,317. Nexa Resources has a one year low of $15.27 and a one year high of $21.61. The company has a market cap of $2,141.34 and a P/E ratio of 12.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.39 and a quick ratio of 1.97.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $123,000. Virtu Financial LLC bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $242,000. Two Sigma Investments LP bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $429,000. Wells Fargo & Company MN bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $1,166,000. Finally, Impala Asset Management LLC bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $1,374,000. Institutional investors and hedge funds own 16.07% of the company’s stock.
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Nexa Resources Company Profile
Nexa Resources SA, through its subsidiaries, primarily produces, refines, processes, and sells zinc in Peru and Brazil. It explores, extracts, produces, and trades zinc, copper, and lead concentrates through its mining sites located in the regions of Pasco, Ica, and Moquegua in Peru. The company also has copper mining project located in the Conchucos District, Ancash Region; poly-metallic mining project located in the Ancash Region; and copper mining project located in the Huancavelica Region, as well as zinc mines in Vazante and Paracatu.
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