Pictet Asset Management Holding SA Invests $7.57 Million in Nexa Resources S.A. $NEXA

Pictet Asset Management Holding SA acquired a new stake in Nexa Resources S.A. (NYSE:NEXA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 715,005 shares of the company’s stock, valued at approximately $7,572,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexa Resources during the fourth quarter worth approximately $36,000. Nano Cap New Millennium Growth Fund L P purchased a new position in Nexa Resources in the fourth quarter valued at approximately $44,000. First Affirmative Financial Network acquired a new stake in Nexa Resources during the third quarter worth approximately $63,000. New York State Common Retirement Fund acquired a new stake in Nexa Resources during the fourth quarter worth approximately $83,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new stake in Nexa Resources during the fourth quarter worth approximately $88,000.

Nexa Resources Price Performance

Shares of NYSE NEXA opened at $13.03 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. Nexa Resources S.A. has a twelve month low of $4.61 and a twelve month high of $16.89. The stock has a 50 day moving average of $14.08 and a two-hundred day moving average of $12.28. The stock has a market cap of $1.73 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.30 and a beta of 0.94.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $888.32 million during the quarter, compared to the consensus estimate of $885.90 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%. On average, research analysts forecast that Nexa Resources S.A. will post 2.81 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 9th. Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Finally, Scotiabank raised their price objective on Nexa Resources from $14.00 to $14.50 and gave the stock a “sector perform” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Nexa Resources presently has a consensus rating of “Hold” and a consensus price target of $11.43.

Nexa Resources 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.