Nexa Resources S.A. (NYSE:NEXA) Receives Average Recommendation of “Reduce” from Analysts

Nexa Resources S.A. (NYSE:NEXA) has been given an average rating of “Reduce” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.60.

A number of equities research analysts recently commented on NEXA shares. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Bank of America lifted their price objective on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 24th. Morgan Stanley increased their price objective on shares of Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen cut shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 28th.

Hedge Funds Weigh In On Nexa Resources

A number of institutional investors have recently modified their holdings of NEXA. Financial Management Professionals Inc. purchased a new position in shares of Nexa Resources during the 2nd quarter valued at about $28,000. Royal Bank of Canada grew its holdings in Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after acquiring an additional 2,784 shares during the period. Quantbot Technologies LP purchased a new position in Nexa Resources during the second quarter valued at approximately $105,000. World Equity Group Inc. purchased a new position in Nexa Resources during the second quarter valued at approximately $161,000. Finally, Two Sigma Securities LLC purchased a new position in Nexa Resources during the second quarter valued at approximately $164,000.

Nexa Resources Stock Down 1.7%

Nexa Resources stock opened at $12.42 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80. The business’s 50-day simple moving average is $13.55 and its two-hundred day simple moving average is $13.27. The company has a market cap of $1.64 billion, a PE ratio of 5.94, a PEG ratio of 0.15 and a beta of 0.95. Nexa Resources has a fifty-two week low of $4.91 and a fifty-two week high of $16.89.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. The firm had revenue of $907.93 million during the quarter, compared to analyst estimates of $906.52 million. Equities analysts anticipate that Nexa Resources will post 2.59 EPS for the current year.

Nexa Resources Company Profile

Nexa Resources SA is a global mining and metals company focused primarily on the exploration, mining, processing and production of zinc. The company also produces lead, silver, copper and related by-products, including sulfuric acid and specialty alloys, through its integrated mining and smelting operations.

Nexa operates mines and metallurgical facilities in Brazil and Peru, serving customers in the Americas and other international markets. Its assets include zinc mines such as Vazante and Aripuanã in Brazil and Cerro Lindo and El Porvenir in Peru, as well as zinc smelters including Cajamarquilla in Peru and facilities in Brazil.

The company traces its origins to the metals operations of Brazilian industrial group Votorantim and adopted the Nexa Resources name in connection with its 2017 public listing.