Pictet Asset Management Holding SA Buys Shares of 715,005 Nexa Resources S.A. $NEXA

Pictet Asset Management Holding SA purchased a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 715,005 shares of the company’s stock, valued at approximately $7,572,000. Pictet Asset Management Holding SA owned 0.54% of Nexa Resources at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Nexa Resources in the fourth quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources during the 4th quarter worth approximately $44,000. First Affirmative Financial Network purchased a new stake in Nexa Resources during the 3rd quarter worth approximately $63,000. New York State Common Retirement Fund acquired a new stake in Nexa Resources during the 4th quarter worth approximately $83,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new stake in Nexa Resources during the 4th quarter worth approximately $88,000.

Nexa Resources Stock Down 0.1%

Shares of Nexa Resources stock opened at $13.03 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13. Nexa Resources S.A. has a 52-week low of $4.61 and a 52-week high of $16.89. The company has a market capitalization of $1.73 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.30 and a beta of 0.94. The company has a 50 day moving average of $14.08 and a 200 day moving average of $12.28.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The company 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, research analysts forecast that Nexa Resources S.A. will post 2.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on NEXA. Zacks Research upgraded shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup boosted their target price on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.43.

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.