Wall Street Zen Upgrades Nexa Resources (NYSE:NEXA) to Strong-Buy

Nexa Resources (NYSE:NEXA) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Several other brokerages also recently weighed in on NEXA. Morgan Stanley upped their target price on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Citigroup boosted their price target on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a report on Wednesday, April 22nd. Zacks Research downgraded shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Finally, Scotiabank increased their price objective 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. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $13.00.

Nexa Resources Stock Performance

Shares of NEXA stock opened at $12.79 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. The company has a market cap of $1.69 billion, a PE ratio of 8.09, a P/E/G ratio of 0.13 and a beta of 0.94. The company’s fifty day simple moving average is $13.76 and its 200-day simple moving average is $12.70. Nexa Resources has a 52 week low of $4.61 and a 52 week high of $16.89.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The firm had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. As a group, equities research analysts anticipate that Nexa Resources will post 2.7 EPS for the current year.

Hedge Funds Weigh In On Nexa Resources

Institutional investors have recently made changes to their positions in the business. Sagil Capital LLP acquired a new stake in shares of Nexa Resources during the fourth quarter worth approximately $11,651,000. Dimensional Fund Advisors LP raised its holdings in Nexa Resources by 47.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock valued at $13,684,000 after acquiring an additional 414,474 shares in the last quarter. Marshall Wace LLP acquired a new stake in Nexa Resources in the fourth quarter valued at $8,653,000. Renaissance Technologies LLC boosted its stake in Nexa Resources by 3.2% during the 1st quarter. Renaissance Technologies LLC now owns 879,872 shares of the company’s stock valued at $9,318,000 after acquiring an additional 27,072 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Nexa Resources by 133.6% during the 1st quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock valued at $7,778,000 after acquiring an additional 420,005 shares during the last quarter.

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.