Nexa Resources (NYSE:NEXA) Stock Rating Upgraded by Zacks Research

Nexa Resources (NYSE:NEXA) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

Several other equities research analysts have also recently weighed in on NEXA. Morgan Stanley raised Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 price target on the stock in a research note on Tuesday, October 6th. Scotiabank boosted their price target on Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday, August 28th. Bank of America increased their target price on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Wall Street Zen cut shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nexa Resources has a consensus rating of “Hold” and an average price target of $14.94.

Nexa Resources Trading Down 2.8%

Shares of NEXA opened at $12.30 on Monday. The firm has a fifty day simple moving average of $13.29 and a two-hundred day simple moving average of $13.54. Nexa Resources has a twelve month low of $5.05 and a twelve month high of $16.89. The stock has a market capitalization of $1.63 billion, a P/E ratio of 5.88, a PEG ratio of 0.14 and a beta of 0.94. The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.64 EPS 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 business had revenue of $907.93 million for the quarter, compared to the consensus estimate of $906.52 million. On average, research analysts anticipate that Nexa Resources will post 2.69 EPS for the current year.

Institutional Trading of Nexa Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Holding SA purchased a new position in shares of Nexa Resources during the 1st quarter valued at $7,572,000. Robeco Institutional Asset Management B.V. lifted its holdings in Nexa Resources by 159.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 697,972 shares of the company’s stock worth $8,508,000 after purchasing an additional 429,208 shares in the last quarter. Bank of America Corp DE boosted its stake in Nexa Resources by 133.6% in the 1st quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock worth $7,778,000 after purchasing an additional 420,005 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Nexa Resources by 47.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock valued at $13,684,000 after buying an additional 414,474 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Nexa Resources during the second quarter worth $4,425,000.

Nexa Resources Company Profile

Nexa Resources SA (NYSE:NEXA) is a global mining and metals company focused primarily on the production of zinc, lead, copper and silver. The company also produces related byproducts and refined materials, including sulfuric acid and various metal alloys, which serve customers in industrial, infrastructure, construction and manufacturing markets.

Nexa operates an integrated platform that includes underground and open-pit mines, mineral-processing facilities and zinc smelters. Its principal mining and metallurgical operations are located in Brazil and Peru, with the Cajamarquilla zinc refinery in Peru and additional mining and smelting assets in Brazil.