Royal Bank of Canada Has Lowered Expectations for Nexa Resources (NYSE:NEXA) Stock Price

Nexa Resources (NYSE:NEXA - Get Free Report) had its target price reduced by investment analysts at Royal Bank of Canada from $8.00 to $7.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank of Canada's price target would indicate a potential upside of 43.74% from the stock's current price.

Other analysts have also recently issued reports about the stock. BMO Capital Markets started coverage on shares of Nexa Resources in a research note on Wednesday, April 16th. They issued a "market perform" rating and a $6.00 target price on the stock. Bank of America dropped their price objective on Nexa Resources from $8.00 to $6.50 and set an "underperform" rating for the company in a research note on Monday, March 10th. Finally, Scotiabank reaffirmed an "underperform" rating on shares of Nexa Resources in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.46.

Nexa Resources Stock Performance

Nexa Resources stock traded down $0.04 during mid-day trading on Wednesday, reaching $4.87. The company's stock had a trading volume of 23,128 shares, compared to its average volume of 47,575. The firm's fifty day moving average price is $5.56 and its two-hundred day moving average price is $6.25. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. Nexa Resources has a 12-month low of $4.76 and a 12-month high of $9.61. The company has a market capitalization of $644.98 million, a P/E ratio of -3.16 and a beta of 0.99.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The company had revenue of $627.12 million during the quarter, compared to the consensus estimate of $635.17 million. Sell-side analysts predict that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.