Scotiabank raised its price target on Nexa Resources to $14.50 from $14 on June 15 while keeping a Sector Perform rating, citing a tighter copper market and insufficient medium-term supply growth. Separately, Nexa provided an update on the gradual resumption of operations at its Cajamarquilla smelter in Peru following a May 13 incident, estimating a production impact of approximately 7,000 tonnes of refined zinc in the second quarter of 2026, which represents about 2% of annual production and is expected to be recovered in the second half of the year. The company's 2026 sales guidance remains unchanged.
Bank of Nova Scotia
Nexa Resources SANexa's Cajamarquilla smelter incident reduces zinc production by 7,000 tonnes, tightening supply, which is positive for zinc prices.