Nexa Resources S.A. (NYSE:NEXA) Receives Consensus Rating of “Reduce” from Brokerages

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

Several equities research analysts have recently commented on NEXA shares. Bank of America raised their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Scotiabank boosted their price target on shares of Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexa Resources in a research note on Monday, July 20th. Zacks Research lowered shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, July 24th.

Nexa Resources Price Performance

Shares of Nexa Resources stock opened at $14.30 on Friday. The business has a 50 day moving average of $13.41 and a 200 day moving average of $12.95. Nexa Resources has a 52 week low of $4.70 and a 52 week high of $16.89. The company has a market cap of $1.89 billion, a PE ratio of 6.84, a P/E/G ratio of 0.15 and a beta of 0.94. 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 results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07). The company had revenue of $907.93 million during the quarter, compared to the consensus estimate of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.93%. As a group, equities research analysts forecast that Nexa Resources will post 2.7 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after purchasing an additional 26,829 shares during the period. Citadel Advisors LLC lifted its position in Nexa Resources by 142.4% during the third 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 period. Millennium Management LLC boosted its holdings in shares of Nexa Resources by 124.1% during the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Nexa Resources during the 3rd quarter valued at $134,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Nexa Resources in the 4th quarter worth about $44,000.

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.