Nexa Resources (NEXA) Receives New Coverage from Analysts at BMO Capital Markets

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BMO Capital Markets started coverage on shares of Nexa Resources (NYSE:NEXA) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage issued a market perform rating and a $19.00 price target on the stock.

Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Nexa Resources from a buy rating to a hold rating in a report on Friday, November 2nd. National Bank Financial initiated coverage on shares of Nexa Resources in a report on Wednesday, October 31st. They issued an outperform rating for the company. Credit Suisse Group initiated coverage on shares of Nexa Resources in a report on Thursday, October 18th. They issued a buy rating and a $17.00 price target for the company. Finally, ValuEngine raised shares of Nexa Resources from a sell rating to a hold rating in a report on Thursday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $18.42.

NEXA opened at $10.24 on Tuesday. The stock has a market capitalization of $1.49 billion, a PE ratio of 7.21 and a beta of 0.74. Nexa Resources has a 1-year low of $9.79 and a 1-year high of $21.61. The company has a quick ratio of 2.15, a current ratio of 2.55 and a debt-to-equity ratio of 0.48.

Nexa Resources (NYSE:NEXA) last released its earnings results on Wednesday, October 31st. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.23. The company had revenue of $595.10 million during the quarter, compared to the consensus estimate of $553.28 million. Nexa Resources had a net margin of 1.74% and a return on equity of 1.61%. The business’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts expect that Nexa Resources will post 0.26 EPS for the current year.

A number of institutional investors have recently bought and sold shares of NEXA. BlackRock Inc. boosted its stake in Nexa Resources by 1,296.1% during the 2nd quarter. BlackRock Inc. now owns 28,271 shares of the company’s stock valued at $333,000 after purchasing an additional 26,246 shares during the period. Dimensional Fund Advisors LP acquired a new position in Nexa Resources during the 2nd quarter valued at about $654,000. Dynamic Technology Lab Private Ltd boosted its stake in Nexa Resources by 237.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 49,966 shares of the company’s stock valued at $588,000 after purchasing an additional 35,165 shares during the period. Bank of America Corp DE boosted its stake in Nexa Resources by 3,982.4% during the 2nd quarter. Bank of America Corp DE now owns 10,206 shares of the company’s stock valued at $120,000 after purchasing an additional 9,956 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Nexa Resources by 29.7% during the 2nd quarter. California Public Employees Retirement System now owns 19,561 shares of the company’s stock valued at $230,000 after purchasing an additional 4,476 shares during the period. 10.86% of the stock is owned by hedge funds and other institutional investors.

Nexa Resources Company Profile

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business in Latin America. It also produces copper, lead, silver and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

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