Nexa Resources (NYSE:NEXA) Stock Rating Lowered by Wall Street Zen

Nexa Resources (NYSE:NEXA) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other analysts have also commented on NEXA. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Bank of America upped their price objective on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 24th. Morgan Stanley lifted their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Scotiabank boosted their target price on shares of Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nexa Resources has a consensus rating of “Reduce” and an average target price of $14.60.

Nexa Resources Stock Down 1.7%

Shares of NEXA opened at $12.15 on Tuesday. Nexa Resources has a 52 week low of $4.61 and a 52 week high of $16.89. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 0.13 and a beta of 0.94. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a fifty day moving average of $13.54 and a 200-day moving average of $12.85.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The company had revenue of $888.32 million for the quarter, compared to the consensus estimate of $885.90 million. As a group, sell-side analysts anticipate that Nexa Resources will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new position in shares of Nexa Resources during the second quarter worth about $28,000. World Equity Group Inc. bought a new stake in Nexa Resources in the second quarter valued at approximately $161,000. GK Wealth Management LLC acquired a new stake in Nexa Resources during the 2nd quarter valued at approximately $327,000. Bank of America Corp DE increased its position in Nexa Resources by 133.6% during the 1st quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock valued at $7,778,000 after purchasing an additional 420,005 shares during the period. Finally, Royal Bank of Canada increased its position in Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after purchasing an additional 2,784 shares during the period.

Nexa Resources Company Profile

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.