Nexa Resources S.A. (NYSE:NEXA) Given Average Recommendation of “Reduce” by Brokerages

Shares of Nexa Resources S.A. (NYSE:NEXA) have received a consensus rating of “Reduce” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.6714.

A number of equities analysts recently weighed in on the company. Scotiabank upped their price target on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. upped their target price on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the stock an “underweight” rating in a report on Monday, December 15th. Finally, Citigroup initiated coverage on shares of Nexa Resources in a research report on Tuesday, September 16th. They set a “neutral” rating and a $5.50 price objective for the company.

Institutional Trading of Nexa Resources

A number of institutional investors have recently made changes to their positions in NEXA. GSA Capital Partners LLP lifted its stake in Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after purchasing an additional 2,504 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Nexa Resources in the third quarter valued at approximately $57,000. First Affirmative Financial Network acquired a new stake in shares of Nexa Resources in the third quarter valued at approximately $63,000. Dimensional Fund Advisors LP lifted its position in Nexa Resources by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after buying an additional 26,829 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Nexa Resources during the third quarter worth $134,000.

Nexa Resources Stock Down 0.6%

Shares of NEXA stock opened at $8.85 on Thursday. The stock has a 50 day moving average of $6.58 and a 200 day moving average of $5.52. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock has a market cap of $1.17 billion, a P/E ratio of -73.74, a P/E/G ratio of 0.43 and a beta of 0.64. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $9.61.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.14). Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. The firm had revenue of $763.52 million for the quarter, compared to analysts’ expectations of $649.86 million. As a group, sell-side analysts expect that Nexa Resources will post 1.03 EPS for the current year.

About Nexa Resources

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.