Nexa Resources (NYSE:NEXA) Rating Increased to Strong-Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Nexa Resources (NYSE:NEXA – Free Report) from a buy rating to a strong-buy rating in a research note published on Monday morning.

Other analysts have also recently issued reports about the company. Morgan Stanley lifted their price objective on Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Citigroup raised their target price on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Bank of America upped their price target on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Finally, Scotiabank upped their price target on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $13.00.

Get Our Latest Analysis on Nexa Resources

Nexa Resources Trading Down 1.4%

NYSE:NEXA opened at $12.02 on Monday. The company has a 50-day moving average price of $13.78 and a 200-day moving average price of $12.67. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 7.61, a P/E/G ratio of 0.13 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. Nexa Resources has a 12 month low of $4.61 and a 12 month high of $16.89.

Nexa Resources (NYSE:NEXA – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The company had revenue of $888.32 million for the quarter, compared to analysts’ expectations of $885.90 million. Equities analysts predict that Nexa Resources will post 2.7 EPS for the current year.

Institutional Investors Weigh In On Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of Nexa Resources by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after purchasing an additional 26,829 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Nexa Resources by 142.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after purchasing an additional 35,411 shares in the last quarter. Millennium Management LLC boosted its position in shares of Nexa Resources by 124.1% in the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Nexa Resources in the 3rd quarter worth approximately $134,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Nexa Resources by 283.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock worth $390,000 after buying an additional 32,581 shares during the last quarter.

Nexa Resources Company Profile

(Get Free Report)

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.

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