Nexa Resources (NYSE:NEXA) Lowered to Hold Rating by Zacks Research

Nexa Resources (NYSE:NEXA) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Citigroup decreased their price objective on Nexa Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. JPMorgan Chase & Co. boosted their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nexa Resources has an average rating of “Reduce” and a consensus target price of $8.87.

Nexa Resources Price Performance

NYSE NEXA opened at $11.04 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87. The firm’s 50 day moving average price is $11.72 and its 200-day moving average price is $8.66. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $14.94. The company has a market cap of $1.46 billion, a PE ratio of 11.04, a P/E/G ratio of 0.13 and a beta of 0.53.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The company had revenue of $903.00 million during the quarter, compared to the consensus estimate of $823.27 million. Nexa Resources had a net margin of 4.42% and a return on equity of 11.81%. Sell-side analysts forecast that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

Several large investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources during the 4th quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Nexa Resources during the fourth quarter worth $44,000. Assenagon Asset Management S.A. purchased a new stake in shares of Nexa Resources during the third quarter valued at $57,000. First Affirmative Financial Network purchased a new stake in shares of Nexa Resources during the third quarter valued at $63,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Nexa Resources in the 4th quarter valued at $83,000.

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.