Nexa Resources (NYSE:NEXA) Price Target Cut to $5.75 by Analysts at Scotiabank

Nexa Resources (NYSE:NEXA) had its target price lowered by Scotiabank from $6.00 to $5.75 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a sector underperform rating on the stock.

Nexa Resources Stock Performance

Shares of NYSE:NEXA opened at $7.74 on Monday. 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 business’s 50 day simple moving average is $7.15 and its 200 day simple moving average is $7.29. Nexa Resources has a 1 year low of $5.10 and a 1 year high of $8.09.

Hedge Funds Weigh In On Nexa Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Nexa Resources during the first quarter worth $8,004,000. Renaissance Technologies LLC raised its holdings in shares of Nexa Resources by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock worth $2,611,000 after buying an additional 12,092 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Nexa Resources by 11.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock worth $4,538,000 after buying an additional 63,197 shares during the last quarter.

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.