Nexa Resources (NYSE:NEXA) Rating Lowered to “Hold” at Wall Street Zen

Nexa Resources (NYSE:NEXA) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Nexa Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Scotiabank raised their price target on shares of Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday, August 28th. Citigroup decreased their price target on shares of Nexa Resources from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Finally, Morgan Stanley raised shares of Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 price objective for the company in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.14.

Nexa Resources Stock Performance

NEXA stock opened at $11.18 on Friday. The stock’s 50 day simple moving average is $12.35 and its 200 day simple moving average is $12.93. Nexa Resources has a 12-month low of $5.95 and a 12-month high of $16.89. The firm has a market cap of $1.48 billion, a P/E ratio of 4.11, a P/E/G ratio of 0.13 and a beta of 0.94. The company has a current ratio of 0.82, a quick ratio of 0.48 and a debt-to-equity ratio of 1.12.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.26. The firm had revenue of $937.13 million during the quarter, compared to the consensus estimate of $952.11 million. Nexa Resources had a net margin of 4.00% and a return on equity of 27.88%. As a group, equities research analysts predict that Nexa Resources will post 2.69 EPS for the current year.

Institutional Trading of Nexa Resources

Hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new position in Nexa Resources during the 2nd quarter worth $28,000. Royal Bank of Canada increased its position in Nexa Resources by 173.8% in the first 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 during the period. Quantbot Technologies LP bought a new stake in Nexa Resources in the second quarter valued at $105,000. World Equity Group Inc. bought a new stake in Nexa Resources in the second quarter valued at $161,000. Finally, Two Sigma Securities LLC bought a new stake in Nexa Resources in the second quarter valued at $164,000.

About Nexa Resources

Nexa Resources is a mining and metals company focused primarily on zinc. Its business spans the exploration and extraction of mineral resources as well as the processing and smelting of metals. The company produces zinc, copper and lead, along with by-products that include silver, gold and sulfuric acid. Nexa operates mines and metallurgical facilities in Brazil and Peru, serving customers in a range of industries that use refined metals and related products. Its operations include zinc mines and smelters, as well as facilities that process ore into marketable metals.