Nexa Resources S.A. (NYSE:NEXA) Receives $6.67 Average PT from Analysts

Shares of Nexa Resources S.A. (NYSE:NEXA) have been assigned an average rating of “Reduce” from the eight analysts that are covering the company, MarketBeat.com reports. Two research 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 brokerages that have issued ratings on the stock in the last year is $6.6714.

Several brokerages have recently commented on NEXA. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the stock an “underweight” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. increased their target price on shares of Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 22nd. Scotiabank boosted their price target on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen upgraded Nexa Resources to a “buy” rating in a research note on Saturday, November 1st.

Hedge Funds Weigh In On Nexa Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEXA. First Affirmative Financial Network bought a new position in shares of Nexa Resources in the third quarter valued at approximately $63,000. Susquehanna International Group LLP bought a new stake in shares of Nexa Resources during the 3rd quarter worth $134,000. Millennium Management LLC grew its stake in Nexa Resources by 124.1% in 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 during the last quarter. Citadel Advisors LLC raised its holdings in Nexa Resources by 142.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after acquiring an additional 35,411 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Nexa Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares during the period.

Nexa Resources Stock Up 6.2%

Shares of Nexa Resources stock opened at $9.40 on Thursday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -78.34, a P/E/G ratio of 0.46 and a beta of 0.64. The stock has a 50-day simple moving average of $6.72 and a 200-day simple moving average of $5.58. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $9.61. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60.

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

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.