Nexa Resources (NYSE:NEXA) Rating Increased to Equal Weight at Morgan Stanley

Morgan Stanley upgraded shares of Nexa Resources (NYSE:NEXA) from an underweight rating to an equal weight rating in a report published on Thursday morning, Marketbeat Ratings reports.

NEXA has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Thursday, February 26th. Citigroup decreased their price target on shares of 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 reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Zacks Research lowered shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Scotiabank decreased their price target on shares of Nexa Resources to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 23rd. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Nexa Resources currently has a consensus rating of “Hold” and an average price target of $8.87.

Nexa Resources Trading Up 3.3%

NYSE NEXA opened at $11.64 on Thursday. Nexa Resources has a one year low of $4.44 and a one year high of $14.94. The company has a 50-day simple moving average of $11.42 and a 200-day simple moving average of $8.89. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87. The firm has a market capitalization of $1.54 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.14 and a beta of 0.62.

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

Nexa Resources Announces Dividend

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

Institutional Trading of Nexa Resources

Hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexa Resources during the 4th quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Nexa Resources during the 4th quarter worth about $44,000. Assenagon Asset Management S.A. bought a new stake in shares of Nexa Resources during the 3rd quarter worth about $57,000. First Affirmative Financial Network bought a new stake in shares of Nexa Resources during the 3rd quarter worth about $63,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Nexa Resources during the 4th quarter worth about $83,000.

Nexa Resources Company Profile

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.