Nexa Resources price target raised to $7 from $5.75 at Scotiabank

Scotiabank raised the firm’s price target on Nexa Resources (NEXA) to $7 from $5.75 and keeps an Underperform rating on the shares. The majority of miners are expected to release their upcoming 2025 operating guidance over the next few weeks ahead of Q4 financial reporting, the analyst tells investors. The firm expects that despite near-term commodity price risk due to economic uncertainty in China and ex-China markets, 2025 should be a relatively solid year for most miners driven by higher output and improved cash costs.