Nexa Resources (NYSE:NEXA) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Nexa Resources (NYSE:NEXA) from a hold rating to a strong-buy rating in a report published on Monday,Zacks reports.

A number of other equities analysts have also commented on the stock. Scotiabank lifted their price target on shares of Nexa Resources from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Friday, August 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a report on Friday. Morgan Stanley upgraded shares of Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 target price on the stock in a research note on Tuesday, October 6th. Bank of America lifted their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.94.

Nexa Resources Stock Performance

Shares of NYSE NEXA opened at $12.30 on Monday. The business’s 50-day simple moving average is $13.29 and its 200-day simple moving average is $13.54. Nexa Resources has a 52 week low of $5.05 and a 52 week high of $16.89. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 5.88, a P/E/G ratio of 0.14 and a beta of 0.94.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The company had revenue of $907.93 million for the quarter, compared to the consensus estimate of $906.52 million. Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%. As a group, equities research analysts expect that Nexa Resources will post 2.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new stake in shares of Nexa Resources during the 2nd quarter worth about $28,000. Royal Bank of Canada lifted its position in Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after buying an additional 2,784 shares in the last quarter. Quantbot Technologies LP acquired a new position in Nexa Resources during the 2nd quarter worth about $105,000. World Equity Group Inc. acquired a new position in Nexa Resources during the 2nd quarter worth about $161,000. Finally, Two Sigma Securities LLC bought a new stake in Nexa Resources during the 2nd quarter worth about $164,000.

About Nexa Resources

Nexa Resources SA (NYSE:NEXA) is a global mining and metals company focused primarily on the production of zinc, lead, copper and silver. The company also produces related byproducts and refined materials, including sulfuric acid and various metal alloys, which serve customers in industrial, infrastructure, construction and manufacturing markets.

Nexa operates an integrated platform that includes underground and open-pit mines, mineral-processing facilities and zinc smelters. Its principal mining and metallurgical operations are located in Brazil and Peru, with the Cajamarquilla zinc refinery in Peru and additional mining and smelting assets in Brazil.