Nexa Resources S.A. (NYSE:NEXA – Get Free Report) has earned an average recommendation of “Reduce” from the five brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.00.
NEXA has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Nexa Resources from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Scotiabank downgraded Nexa Resources from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the stock from $5.00 to $4.50 in a research note on Wednesday, November 1st.
Nexa Resources Trading Up 0.1 %
Institutional Investors Weigh In On Nexa Resources
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Nexa Resources by 2,954.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,185 shares of the company’s stock worth $26,000 after acquiring an additional 4,048 shares during the last quarter. UBS Group AG acquired a new position in Nexa Resources during the 3rd quarter worth $42,000. Virtu Financial LLC acquired a new position in Nexa Resources during the 2nd quarter worth $58,000. WINTON GROUP Ltd acquired a new position in Nexa Resources during the 2nd quarter worth $61,000. Finally, Balyasny Asset Management LLC acquired a new position in Nexa Resources during the 3rd quarter worth $63,000.
Nexa Resources Company Profile
Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business. The company operates through 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 cement, silver concentrate, and cadmium/sponge deposits.
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