Nexa Resources (NYSE:NEXA) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Nexa Resources (NYSE:NEXA) from an underweight rating to an equal weight rating in a research note issued to investors on Thursday, MarketBeat.com reports. Morgan Stanley currently has $7.80 target price on the stock, up from their previous target price of $7.50.

Separately, Scotiabank lowered their target price on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.31.

Nexa Resources Price Performance

NYSE NEXA opened at $8.41 on Thursday. Nexa Resources has a 12 month low of $5.10 and a 12 month high of $8.63. 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 stock’s 50 day moving average is $7.76 and its 200 day moving average is $7.35.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC increased its position in Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 as of its most recent SEC filing.

Nexa Resources Company Profile

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.