Nexa Resources (NYSE:NEXA) Sets New 12-Month High – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $16.79 and last traded at $16.4790, with a volume of 272328 shares traded. The stock had previously closed at $15.99.

Wall Street Analysts Forecast Growth

NEXA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 9th. Citigroup raised their target price on Nexa Resources from $11.00 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 1st. Seven analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.74.

Nexa Resources Price Performance

The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.28. The stock has a market cap of $1.90 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.29 and a beta of 0.90. The firm has a 50 day moving average price of $12.31 and a 200 day moving average price of $10.12.

Nexa Resources (NYSE:NEXA) last released its earnings results on Wednesday, May 6th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $888.30 million during the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 17.04%. On average, analysts forecast that Nexa Resources S.A. will post 2.08 EPS for the current fiscal year.

Nexa Resources Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, July 28th will be paid a dividend of $0.1321 per share. The ex-dividend date is Tuesday, July 28th. Nexa Resources’s payout ratio is 8.23%.

Institutional Investors Weigh In On Nexa Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Nexa Resources by 47.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock valued at $13,684,000 after purchasing an additional 414,474 shares during the period. Hsbc Holdings PLC raised its position in shares of Nexa Resources by 17.5% during the first quarter. Hsbc Holdings PLC now owns 19,333 shares of the company’s stock valued at $203,000 after buying an additional 2,879 shares during the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Nexa Resources in the first quarter worth $7,572,000. XTX Topco Ltd bought a new position in shares of Nexa Resources during the fourth quarter worth $645,000. Finally, Susquehanna Portfolio Strategies LLC purchased a new position in Nexa Resources during the fourth quarter valued at $88,000.

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.