Nexa Resources (NYSE:NEXA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $14.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.66% from the company’s previous close.

According to Zacks, “Nexa Resources S.A. is an integrated zinc producer. It engaged in developing and operating mining and smelting assets primarily in Latin America. The Company operates and owns principally in the Central Andes of Peru and in the state of Minas Gerais in Brazil. Nexa Resources S.A. is headquartered in Luxembourg City. “

Other research analysts have also issued research reports about the company. ValuEngine raised Nexa Resources from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Bank of America lowered Nexa Resources from a “buy” rating to an “underperform” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Nexa Resources has a consensus rating of “Buy” and an average target price of $21.30.

Shares of NYSE NEXA opened at $12.21 on Thursday. Nexa Resources has a 12 month low of $10.52 and a 12 month high of $21.61. The company has a quick ratio of 2.04, a current ratio of 2.47 and a debt-to-equity ratio of 0.49. The stock has a market cap of $1.61 billion and a PE ratio of 8.56.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Tuesday, July 31st. The company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.17. Nexa Resources had a return on equity of 4.21% and a net margin of 4.47%. The company had revenue of $636.52 million during the quarter. Sell-side analysts anticipate that Nexa Resources will post 0.54 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in NEXA. JPMorgan Chase & Co. lifted its position in Nexa Resources by 3.3% in the 1st quarter. JPMorgan Chase & Co. now owns 640,923 shares of the company’s stock worth $11,223,000 after buying an additional 20,282 shares during the last quarter. New York State Common Retirement Fund lifted its position in Nexa Resources by 25.5% in the 1st quarter. New York State Common Retirement Fund now owns 80,365 shares of the company’s stock worth $1,407,000 after buying an additional 16,313 shares during the last quarter. California Public Employees Retirement System bought a new stake in Nexa Resources in the 1st quarter worth approximately $264,000. Russell Investments Group Ltd. bought a new stake in Nexa Resources in the 1st quarter worth approximately $1,678,000. Finally, Barclays PLC lifted its position in Nexa Resources by 4,503.5% in the 1st quarter. Barclays PLC now owns 18,644 shares of the company’s stock worth $326,000 after buying an additional 18,239 shares during the last quarter. Institutional investors own 11.50% of the company’s stock.

About Nexa Resources

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business in Latin America. It also produces copper, lead, silver and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

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