Nexa Resources (NYSE:NEXA) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Nexa Resources (NYSE:NEXA) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

A number of other research analysts have also recently issued reports on NEXA. JPMorgan Chase & Co. boosted their target price on Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, July 24th. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a report on Monday, July 20th. Bank of America boosted their price objective on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Finally, Scotiabank increased their target price on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Nexa Resources has a consensus rating of “Reduce” and an average price target of $14.60.

Nexa Resources Trading Down 4.2%

Shares of NYSE NEXA opened at $12.35 on Tuesday. The company’s fifty day moving average is $13.58 and its 200-day moving average is $12.83. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 0.14 and a beta of 0.94. Nexa Resources has a twelve month low of $4.61 and a twelve month high of $16.89. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. Equities research analysts predict that Nexa Resources will post 2.7 EPS for the current year.

Hedge Funds Weigh In On Nexa Resources

A number of large investors have recently added to or reduced their stakes in the company. Sagil Capital LLP bought a new position in shares of Nexa Resources during the fourth quarter worth about $11,651,000. Marshall Wace LLP bought a new stake in Nexa Resources in the 4th quarter valued at approximately $8,653,000. Pictet Asset Management Holding SA bought a new stake in Nexa Resources in the 1st quarter valued at approximately $7,572,000. Walleye Capital LLC bought a new stake in Nexa Resources in the 4th quarter valued at approximately $4,628,000. Finally, Renaissance Technologies LLC boosted its position in Nexa Resources by 120.8% during the 4th quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock worth $7,547,000 after acquiring an additional 466,500 shares during the last quarter.

Nexa Resources Company Profile

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.