Fintel reports that on August 21, 2023, JP Morgan maintained coverage of Nexa Resources (NYSE:NEXA) with a Neutral recommendation.
Analyst Price Forecast Suggests 26.80% Upside
As of August 2, 2023, the average one-year price target for Nexa Resources is 6.45. The forecasts range from a low of 4.24 to a high of $8.66. The average price target represents an increase of 26.80% from its latest reported closing price of 5.09.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nexa Resources is 2,630MM, a decrease of 5.27%. The projected annual non-GAAP EPS is 1.16.
What is the Fund Sentiment?
There are 55 funds or institutions reporting positions in Nexa Resources. This is a decrease of 3 owner(s) or 5.17% in the last quarter. Average portfolio weight of all funds dedicated to NEXA is 0.03%, a decrease of 8.71%. Total shares owned by institutions decreased in the last three months by 4.49% to 14,294K shares. 
The put/call ratio of NEXA is 0.53, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 4,710K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 4,712K shares, representing a decrease of 0.05%. The firm decreased its portfolio allocation in NEXA by 27.45% over the last quarter.
CAIBX - CAPITAL INCOME BUILDER holds 4,625K shares representing 3.49% ownership of the company. No change in the last quarter.
Etf Managers Group holds 1,200K shares representing 0.91% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
SILJ - ETFMG Prime Junior Silver Miners ETF holds 1,150K shares representing 0.87% ownership of the company. In it's prior filing, the firm reported owning 1,510K shares, representing a decrease of 31.31%. The firm decreased its portfolio allocation in NEXA by 22.76% over the last quarter.
COPX - Global X Copper Miners ETF holds 1,030K shares representing 0.78% ownership of the company. In it's prior filing, the firm reported owning 1,074K shares, representing a decrease of 4.26%. The firm decreased its portfolio allocation in NEXA by 10.09% over the last quarter.
Nexa Resources Background Information
(This description is provided by the company.)
Nexa is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five long-life underground mines - three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil - and is developing the Aripuanã Project as its sixth underground mine in Mato Grosso, Brazil. Nexa also currently owns and operates three smelters, two located in Brazil and one in Peru, Cajamarquilla, which is the largest smelter in the Americas. Nexa was among the top five producers of mined zinc globally in 2019 and also one of the top five metallic zinc producers worldwide in 2019, according to Wood Mackenzie.
Additional reading:
- NEXA RESOURCES RESUMES ATACOCHA MINE OPERATION
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- Nexa Reports Second Quarter 2023 Results including Adjusted EBITDA of US$72 Million
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