According to Zacks, “Nexa Resources S.A. is an integrated zinc producer. It engaged in developing and operating mining and smelting assets primarily in Latin America. The Company operates and owns principally in the Central Andes of Peru and in the state of Minas Gerais in Brazil. Nexa Resources S.A. is headquartered in Luxembourg City. “
A number of other brokerages have also recently commented on NEXA. CIBC began coverage on shares of Nexa Resources in a research note on Monday, November 11th. They issued a neutral rating on the stock. National Bank Financial lowered their price objective on shares of Nexa Resources from $14.50 to $14.00 and set a sector perform rating on the stock in a research note on Thursday, December 19th. Morgan Stanley cut shares of Nexa Resources from an overweight rating to an equal rating and lowered their price objective for the company from $11.00 to $10.00 in a research note on Friday, November 8th. BMO Capital Markets lowered their price objective on shares of Nexa Resources from $10.00 to $9.25 and set a market perform rating on the stock in a research note on Tuesday, December 24th. They noted that the move was a valuation call. Finally, Citigroup cut shares of Nexa Resources from a neutral rating to a sell rating and lowered their price objective for the company from $9.50 to $8.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Nexa Resources has a consensus rating of Hold and an average target price of $11.28.
Large investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new position in Nexa Resources in the 1st quarter valued at about $72,000. Spark Investment Management LLC acquired a new stake in Nexa Resources during the 4th quarter worth approximately $150,000. California Public Employees Retirement System increased its position in Nexa Resources by 50.9% during the 3rd quarter. California Public Employees Retirement System now owns 18,078 shares of the company’s stock worth $170,000 after purchasing an additional 6,100 shares in the last quarter. Millennium Management LLC increased its position in Nexa Resources by 16.2% during the 3rd quarter. Millennium Management LLC now owns 27,055 shares of the company’s stock worth $254,000 after purchasing an additional 3,768 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Nexa Resources during the 4th quarter worth approximately $568,000. Institutional investors own 2.46% of the company’s stock.
Nexa Resources Company Profile
Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. 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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