Nexa Resources (NYSE:NEXA) Rating Lowered to “Hold” at Zacks Research

Nexa Resources (NYSE:NEXA) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

NEXA has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Wall Street Zen upgraded shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. upped their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Scotiabank dropped their target price on Nexa Resources to $14.00 and set a “sector perform” rating on the stock in a research report on Monday, March 23rd. Finally, Citigroup reduced their price target on Nexa Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nexa Resources presently has an average rating of “Reduce” and a consensus target price of $8.87.

Nexa Resources Stock Up 4.2%

NEXA stock opened at $11.04 on Tuesday. The firm’s fifty day simple moving average is $11.72 and its 200-day simple moving average is $8.66. The company has a market capitalization of $1.46 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.13 and a beta of 0.53. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.87 and a quick ratio of 0.58. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $14.94.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Thursday, February 26th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.15. The firm had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Nexa Resources had a net margin of 4.42% and a return on equity of 11.81%. As a group, equities research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current year.

Institutional Trading of Nexa Resources

A number of institutional investors and hedge funds have recently modified their holdings of NEXA. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Nexa Resources during the 4th quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in Nexa Resources during the 4th quarter worth $44,000. New York State Common Retirement Fund purchased a new stake in shares of Nexa Resources during the fourth quarter worth $83,000. Susquehanna Portfolio Strategies LLC purchased a new stake in shares of Nexa Resources during the fourth quarter worth $88,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Nexa Resources in the third quarter valued at about $57,000.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.