Nexa Resources (NYSE:NEXA) Given New $7.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its target price for Nexa Resources from $6.50 to $7.00, indicating a potential upside of 23.57% from the stock's previous close.
• Citigroup and Scotiabank also issued ratings, with Citigroup setting a price objective of $5.50 while Scotiabank raised their target price to $5.50 as well, reflecting mixed analyst sentiment.
• Nexa Resources reported a $0.11 EPS for its latest quarter, exceeding expectations, with significant revenue of $708.42 million compared to analyst estimates of $625.20 million.

Nexa Resources (NYSE:NEXA - Get Free Report) had its target price raised by investment analysts at JPMorgan Chase & Co. from $6.50 to $7.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 23.57% from the stock's previous close.

Other research analysts have also issued reports about the company. Citigroup initiated coverage on Nexa Resources in a research report on Tuesday, September 16th. They issued a "neutral" rating and a $5.50 price objective for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Nexa Resources in a research note on Wednesday, October 8th. Scotiabank upgraded Nexa Resources from a "sector underperform" rating to a "sector perform" rating and raised their target price for the company from $4.00 to $5.50 in a report on Tuesday. Finally, Morgan Stanley cut shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $7.00 to $5.00 in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $6.07.

Nexa Resources Price Performance

NYSE NEXA traded up $0.07 during trading hours on Friday, hitting $5.67. 28,991 shares of the company's stock traded hands, compared to its average volume of 36,549. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $9.61. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.99 and a quick ratio of 0.64. The company has a market capitalization of $750.27 million, a PE ratio of -8.33 and a beta of 0.77. The firm's 50-day moving average is $5.01 and its 200-day moving average is $5.17.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.16. Nexa Resources had a negative return on equity of 6.54% and a negative net margin of 3.26%.The business had revenue of $708.42 million for the quarter, compared to analyst estimates of $625.20 million. Equities analysts forecast that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Assenagon Asset Management S.A. bought a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,486 shares of the company's stock, valued at approximately $57,000.

About Nexa Resources

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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