Nexa Resources (NYSE:NEXA) Cut to Underweight at Morgan Stanley

Morgan Stanley cut shares of Nexa Resources (NYSE:NEXA) from an equal weight rating to an underweight rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $5.00 price objective on the stock, down from their prior price objective of $7.00.

Several other analysts have also recently issued reports on the company. Scotiabank reaffirmed an “underperform” rating on shares of Nexa Resources in a research report on Wednesday, May 14th. Royal Bank Of Canada lowered their price target on Nexa Resources from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 4th. Finally, 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 target for the company. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, Nexa Resources presently has a consensus rating of “Reduce” and a consensus target price of $5.90.

Nexa Resources Trading Down 0.7%

Shares of NYSE NEXA opened at $4.83 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.64 and a current ratio of 0.99. The business’s 50 day moving average price is $5.00 and its 200-day moving average price is $5.62. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $9.61. The company has a market cap of $639.02 million, a price-to-earnings ratio of -3.80, a PEG ratio of 1.29 and a beta of 0.95.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $627.12 million for the quarter, compared to analysts’ expectations of $635.17 million. Nexa Resources had a negative return on equity of 5.97% and a negative net margin of 5.97%. On average, sell-side analysts expect that Nexa Resources will post 1.03 earnings per share for the current year.

Nexa Resources Dividend Announcement

The firm also recently declared a — dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were paid a $0.1012 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. Nexa Resources’s dividend payout ratio is presently -7.87%.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC bought a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,341 shares of the company’s stock, valued at approximately $126,000.

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.