Nexa Resources (NYSE:NEXA) Now Covered by Citigroup

Citigroup began coverage on shares of Nexa Resources (NYSE:NEXA) in a report issued on Tuesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $5.50 price objective on the stock.

Other equities analysts have also issued research reports about the company. Scotiabank set a $4.00 price target on Nexa Resources and gave the company a “sector underperform” rating in a research note on Tuesday, August 5th. Morgan Stanley cut Nexa Resources from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $7.00 to $5.00 in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada lowered their target price on Nexa Resources from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Nexa Resources currently has a consensus rating of “Reduce” and an average price target of $5.67.

Nexa Resources Trading Up 4.0%

Shares of Nexa Resources stock opened at $5.26 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 1.54. Nexa Resources has a 12-month low of $4.44 and a 12-month high of $9.61. The company has a market capitalization of $696.63 million, a price-to-earnings ratio of -7.74 and a beta of 0.89. The firm’s 50-day moving average price is $4.90 and its two-hundred day moving average price is $5.23.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.16. The company had revenue of $708.42 million during the quarter, compared to the consensus estimate of $625.20 million. Nexa Resources had a negative net margin of 3.26% and a negative return on equity of 6.54%. On average, analysts forecast that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

About Nexa Resources

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.