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

Shares of Nexa Resources S.A. (NYSE:NEXA) have been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $11.4250.

Several research analysts have recently commented on NEXA shares. Wall Street Zen lowered shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 9th. Scotiabank lifted their price objective on shares of Nexa Resources from $14.00 to $14.50 and gave the company a “sector perform” rating in a research report on Monday. Zacks Research upgraded shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd.

Institutional Trading of Nexa Resources

Hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexa Resources during the 4th quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $44,000. Royal Bank of Canada raised its holdings in shares of Nexa Resources by 173.8% in the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after purchasing an additional 2,784 shares in the last quarter. First Affirmative Financial Network bought a new stake in shares of Nexa Resources in the 3rd quarter worth approximately $63,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $83,000.

Nexa Resources Price Performance

Shares of NEXA stock opened at $14.31 on Thursday. The firm has a market cap of $1.89 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.35 and a beta of 0.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. Nexa Resources has a 1-year low of $4.44 and a 1-year high of $16.89. The firm has a fifty day moving average of $14.18 and a two-hundred day moving average of $11.84.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The business had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. As a group, research analysts anticipate that Nexa Resources will post 2.67 earnings per share for the current fiscal year.

About Nexa Resources

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.