Nexa Resources S.A. (NYSE:NEXA) Receives Average Rating of “Reduce” from Analysts

Shares of Nexa Resources S.A. (NYSE:NEXA) have received a consensus rating of “Reduce” from the seven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.60.

Several brokerages recently issued reports on NEXA. Morgan Stanley increased their price objective on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 28th. Scotiabank upped their target price on Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday, August 28th. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, Citigroup lifted their price target on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd.

Nexa Resources Stock Up 0.1%

NEXA stock opened at $13.81 on Tuesday. Nexa Resources has a 12-month low of $4.80 and a 12-month high of $16.89. The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 6.61, a PEG ratio of 0.16 and a beta of 0.95. The company has a 50 day moving average of $13.61 and a two-hundred day moving average of $13.19.

Nexa Resources (NYSE:NEXA) last issued 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). Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. The company had revenue of $907.93 million for the quarter, compared to analyst estimates of $906.52 million. On average, equities analysts anticipate that Nexa Resources will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

Several large investors have recently added to or reduced their stakes in the business. Sagil Capital LLP bought a new stake in Nexa Resources in the fourth quarter worth $11,651,000. Marshall Wace LLP acquired a new position in Nexa Resources during the fourth quarter worth $8,653,000. Pictet Asset Management Holding SA bought a new position in Nexa Resources during the first quarter valued at about $7,572,000. Walleye Capital LLC bought a new position in Nexa Resources during the fourth quarter valued at about $4,628,000. Finally, Renaissance Technologies LLC lifted its position in shares of Nexa Resources by 120.8% in the fourth quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock worth $7,547,000 after buying an additional 466,500 shares during the last quarter.

About Nexa Resources

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.