Nexa Resources (NYSE:NEXA) Cut to Hold at Zacks Research

Zacks Research cut shares of Nexa Resources (NYSE:NEXA) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other research firms also recently commented on NEXA. Citigroup decreased their target price on Nexa Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Scotiabank reduced their price target on shares of Nexa Resources to $14.00 and set a “sector perform” rating for the company in a research report on Monday, March 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 1st. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nexa Resources presently has an average rating of “Reduce” and a consensus target price of $8.87.

Nexa Resources Price Performance

NYSE NEXA opened at $11.01 on Tuesday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.14 and a beta of 0.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.87 and a quick ratio of 0.58. The stock’s fifty day moving average price is $11.70 and its 200 day moving average price is $8.68. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $14.94.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The company had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%. As a group, equities research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current year.

Nexa Resources Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, July 28th will be given a dividend of $0.1321 per share. The ex-dividend date is Tuesday, July 28th. Nexa Resources’s dividend payout ratio (DPR) is currently 10.00%.

Institutional Investors Weigh In On Nexa Resources

Several hedge funds have recently bought and sold shares of NEXA. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Nexa Resources during the 4th quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources during the fourth quarter worth $44,000. Assenagon Asset Management S.A. purchased a new stake in Nexa Resources during the third quarter worth $57,000. First Affirmative Financial Network acquired a new stake in Nexa Resources during the third quarter valued at $63,000. Finally, New York State Common Retirement Fund acquired a new stake in Nexa Resources during the fourth quarter valued at $83,000.

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.