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

Wall Street Zen lowered shares of Nexa Resources (NYSE:NEXA) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

A number of other equities research analysts also recently weighed in on NEXA. Citigroup upped their price target on shares of Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Scotiabank restated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. Finally, Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nexa Resources has a consensus rating of “Hold” and an average price target of $7.74.

Nexa Resources Trading Down 1.6%

NYSE NEXA opened at $11.30 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $14.94. The company’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $7.44.

Hedge Funds Weigh In On Nexa Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEXA. XTX Topco Ltd acquired a new stake in Nexa Resources during the 4th quarter valued at $645,000. Susquehanna Portfolio Strategies LLC purchased a new position in shares of Nexa Resources during the fourth quarter valued at $88,000. Quadrature Capital Ltd acquired a new position in Nexa Resources during the fourth quarter valued at $394,000. Millennium Management LLC raised its position in Nexa Resources by 249.4% during the fourth quarter. Millennium Management LLC now owns 255,757 shares of the company’s stock valued at $2,263,000 after buying an additional 182,567 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in Nexa Resources by 69.7% in the 4th quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock worth $155,000 after acquiring an additional 7,206 shares in 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.