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

Shares of Nexa Resources S.A. (NYSE:NEXA) have been assigned an average rating of “Hold” from the six research firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $11.4250.

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Scotiabank lifted their target price on shares of Nexa Resources from $14.00 to $14.50 and gave the stock a “sector perform” rating in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen downgraded shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXA. Police & Firemen s Retirement System of New Jersey purchased a new position in Nexa Resources during the fourth quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Nexa Resources in the fourth quarter worth $44,000. Royal Bank of Canada lifted its stake in shares of Nexa Resources by 173.8% in the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after buying an additional 2,784 shares during the last quarter. First Affirmative Financial Network acquired a new stake in shares of Nexa Resources in the third quarter worth $63,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nexa Resources in the fourth quarter worth $83,000.

Nexa Resources Stock Performance

Nexa Resources stock opened at $14.31 on Thursday. The firm’s 50 day simple moving average is $14.18 and its 200-day simple moving average is $11.84. The company has a market cap of $1.89 billion, a P/E ratio of 9.06, a price-to-earnings-growth 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 fifty-two week low of $4.44 and a fifty-two week high of $16.89.

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