Zacks Investment Research Downgrades Nexa Resources (NYSE:NEXA) to Sell

Share on StockTwits

Zacks Investment Research lowered shares of Nexa Resources (NYSE:NEXA) from a hold rating to a sell rating in a report published on Thursday morning, Zacks.com reports.

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.

NYSE:NEXA opened at $9.14 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.97 and a debt-to-equity ratio of 0.59. Nexa Resources has a fifty-two week low of $7.00 and a fifty-two week high of $12.80. The stock has a market cap of $1.22 billion, a PE ratio of -8.23 and a beta of 0.31. The firm’s fifty day simple moving average is $8.39 and its 200-day simple moving average is $8.83.

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.

Read More: Resistance Level

Get a free copy of the Zacks research report on Nexa Resources (NEXA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nexa Resources (NYSE:NEXA)

Receive News & Ratings for Nexa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexa Resources and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.