Nexa Resources (NYSE:NEXA) Reaches New 1-Year Low After Analyst Downgrade

Shares of Nexa Resources S.A. (NYSE:NEXA) reached a new 52-week low on Wednesday after Royal Bank of Canada lowered their price target on the stock from $8.00 to $7.00. Royal Bank of Canada currently has a sector perform rating on the stock. Nexa Resources traded as low as $4.90 and last traded at $4.94, with a volume of 16454 shares trading hands. The stock had previously closed at $4.95.

Other analysts have also recently issued research reports about the company. BMO Capital Markets assumed coverage on Nexa Resources in a research report on Wednesday, April 16th. They set a “market perform” rating and a $6.00 price objective for the company. Scotiabank reissued an “underperform” rating on shares of Nexa Resources in a research report on Wednesday, May 14th. Finally, Bank of America dropped their price objective on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating on the stock in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.46.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC bought a new position in Nexa Resources S.A. (NYSE:NEXA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,341 shares of the company’s stock, valued at approximately $126,000.

Nexa Resources Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm has a 50-day simple moving average of $5.64 and a two-hundred day simple moving average of $6.30. The company has a market capitalization of $654.25 million, a price-to-earnings ratio of -3.21 and a beta of 1.05.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The business had revenue of $627.12 million for the quarter, compared to the consensus estimate of $635.17 million. As a group, sell-side analysts forecast that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.

Nexa Resources Announces Dividend

The business also recently announced a — dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be issued a $0.1012 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. Nexa Resources’s payout ratio is presently -25.98%.

Nexa Resources Company Profile

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.