Nexa Resources (NYSE:NEXA) Stock Rating Lowered by Wall Street Zen

Nexa Resources (NYSE:NEXA) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts have also commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. Citigroup boosted their target price on shares of Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Scotiabank restated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Finally, Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Nexa Resources presently has an average rating of “Hold” and an average target price of $7.74.

Nexa Resources Trading Down 1.6%

NYSE NEXA opened at $11.30 on Friday. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $14.94. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. The firm’s fifty day moving average price is $10.92 and its two-hundred day moving average price is $7.42.

Institutional Investors Weigh In On Nexa Resources

Institutional investors have recently modified their holdings of the company. Sagil Capital LLP acquired a new stake in shares of Nexa Resources during the fourth quarter worth $11,651,000. Marshall Wace LLP bought a new stake in Nexa Resources during the fourth quarter valued at $8,653,000. Walleye Capital LLC acquired a new stake in Nexa Resources during the 4th quarter worth about $4,628,000. Renaissance Technologies LLC raised its position in shares of Nexa Resources by 120.8% in the 4th quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock worth $7,547,000 after acquiring an additional 466,500 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Nexa Resources in the 4th quarter worth about $2,404,000.

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.