Nexa Resources S.A. (NYSE:NEXA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Nexa Resources S.A. (NYSE:NEXA) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.43.

NEXA has been the subject of several recent research reports. TheStreet raised Nexa Resources from a “d” rating to a “c-” rating in a research report on Friday, February 12th. Morgan Stanley raised Nexa Resources from an “equal weight” rating to an “overweight” rating in a research report on Monday, February 1st. Credit Suisse Group raised Nexa Resources from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $8.50 to $11.00 in a research report on Thursday, April 22nd. Zacks Investment Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research report on Friday. Finally, Citigroup downgraded Nexa Resources from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Tuesday, February 16th.

Shares of NEXA stock opened at $11.63 on Tuesday. The stock has a fifty day moving average price of $10.48 and a 200 day moving average price of $9.31. The stock has a market cap of $1.54 billion, a PE ratio of -2.52 and a beta of 1.66. Nexa Resources has a 1 year low of $3.69 and a 1 year high of $12.58. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.66 and a current ratio of 1.94.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, April 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.08). The company had revenue of $602.93 million for the quarter. Nexa Resources had a negative return on equity of 3.22% and a negative net margin of 32.17%. As a group, equities research analysts predict that Nexa Resources will post -0.9 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Nexa Resources during the fourth quarter valued at about $4,726,000. ETF Managers Group LLC grew its position in Nexa Resources by 26.8% during the fourth quarter. ETF Managers Group LLC now owns 909,157 shares of the company’s stock valued at $8,655,000 after acquiring an additional 191,988 shares during the period. Renaissance Technologies LLC grew its position in Nexa Resources by 9.8% during the first quarter. Renaissance Technologies LLC now owns 507,900 shares of the company’s stock valued at $5,206,000 after acquiring an additional 45,400 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Nexa Resources during the first quarter valued at about $221,000. Finally, JPMorgan Chase & Co. grew its position in Nexa Resources by 54.7% during the first quarter. JPMorgan Chase & Co. now owns 56,196 shares of the company’s stock valued at $576,000 after acquiring an additional 19,878 shares during the period. 8.42% of the stock is owned by institutional investors and hedge funds.

About Nexa Resources

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. It also produces zinc, silver, gold, copper, cement, sulfuric acid, lead, agricultural lime, and copper sulfate deposits. The company owns and operates five underground polymetallic mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

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Analyst Recommendations for Nexa Resources (NYSE:NEXA)

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