Nexa Resources (NYSE:NEXA) Rating Lowered to Hold at Wall Street Zen

Nexa Resources (NYSE:NEXA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on NEXA. JPMorgan Chase & Co. upped their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley raised Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 target price on the stock in a research report on Tuesday, October 6th. Scotiabank boosted their price target on Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Citigroup reduced their price target on Nexa Resources from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.14.

Nexa Resources Price Performance

Shares of NEXA stock opened at $11.18 on Friday. The company has a market capitalization of $1.48 billion, a PE ratio of 4.11, a price-to-earnings-growth ratio of 0.13 and a beta of 0.94. The firm has a fifty day simple moving average of $12.35 and a 200-day simple moving average of $12.93. The company has a current ratio of 0.82, a quick ratio of 0.48 and a debt-to-equity ratio of 1.12. Nexa Resources has a twelve month low of $5.95 and a twelve month high of $16.89.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.26. Nexa Resources had a net margin of 4.00% and a return on equity of 27.88%. The business had revenue of $937.13 million during the quarter, compared to analyst estimates of $952.11 million. Equities research analysts anticipate that Nexa Resources will post 2.69 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

Institutional investors have recently added to or reduced their stakes in the stock. Hartree Partners LP acquired a new stake in shares of Nexa Resources in the 3rd quarter valued at about $234,000. Independent Advisor Alliance bought a new position in shares of Nexa Resources during the third quarter worth about $370,000. Virtus Advisers LLC grew its stake in Nexa Resources by 25.0% in the third quarter. Virtus Advisers LLC now owns 21,049 shares of the company’s stock worth $257,000 after purchasing an additional 4,216 shares in the last quarter. Trek Financial LLC grew its stake in Nexa Resources by 58.1% in the third quarter. Trek Financial LLC now owns 82,586 shares of the company’s stock worth $1,007,000 after purchasing an additional 30,340 shares in the last quarter. Finally, Ashoka WhiteOak Capital Pte Ltd acquired a new position in Nexa Resources in the third quarter worth about $6,252,000.

About Nexa Resources

Nexa Resources is a mining and metals company focused primarily on zinc. Its business spans the exploration and extraction of mineral resources as well as the processing and smelting of metals. The company produces zinc, copper and lead, along with by-products that include silver, gold and sulfuric acid. Nexa operates mines and metallurgical facilities in Brazil and Peru, serving customers in a range of industries that use refined metals and related products. Its operations include zinc mines and smelters, as well as facilities that process ore into marketable metals.