Nexa Resources S.A. (NYSE:NEXA) Receives $6.67 Average Target Price from Brokerages

Nexa Resources S.A. (NYSE:NEXA) has been given a consensus recommendation of “Reduce” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.6714.

NEXA has been the topic of a number of recent research reports. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Wall Street Zen upgraded shares of Nexa Resources to a “buy” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Scotiabank lifted their price target on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th.

Nexa Resources Stock Performance

NEXA opened at $13.18 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. The company has a market capitalization of $1.76 billion, a PE ratio of -109.83, a price-to-earnings-growth ratio of 0.33 and a beta of 0.57. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $13.87. The business has a fifty day simple moving average of $8.73 and a 200 day simple moving average of $6.39.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. The company had revenue of $763.52 million during the quarter, compared to analyst estimates of $649.86 million. Research analysts expect that Nexa Resources will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Nexa Resources by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after buying an additional 26,829 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Nexa Resources by 124.1% in the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares during the period. Citadel Advisors LLC lifted its position in shares of Nexa Resources by 142.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after buying an additional 35,411 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Nexa Resources by 283.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock worth $390,000 after purchasing an additional 32,581 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after buying an additional 2,504 shares during the period.

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.