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

Nexa Resources S.A. (NYSE:NEXA) has been assigned an average recommendation of “Reduce” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $13.00.

Several research analysts have recently issued reports on NEXA shares. Scotiabank increased their price objective on shares of Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Wall Street Zen lowered shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research cut Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Citigroup upped their target price on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Bank of America increased their price target on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEXA. Sagil Capital LLP acquired a new position in Nexa Resources during the fourth quarter worth about $11,651,000. Dimensional Fund Advisors LP boosted its position in shares of Nexa Resources by 47.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock valued at $13,684,000 after purchasing an additional 414,474 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Nexa Resources during the 4th quarter valued at about $8,653,000. Renaissance Technologies LLC grew its stake in shares of Nexa Resources by 3.2% in the 1st quarter. Renaissance Technologies LLC now owns 879,872 shares of the company’s stock worth $9,318,000 after purchasing an additional 27,072 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Nexa Resources by 133.6% in the 1st quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock worth $7,778,000 after purchasing an additional 420,005 shares during the last quarter.

Nexa Resources Price Performance

Shares of NYSE NEXA opened at $12.23 on Monday. The stock has a market cap of $1.62 billion, a P/E ratio of 7.74, a P/E/G ratio of 0.14 and a beta of 0.94. The firm’s 50-day simple moving average is $13.80 and its 200 day simple moving average is $12.63. Nexa Resources has a fifty-two week low of $4.61 and a fifty-two week high of $16.89. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13.

Nexa Resources (NYSE:NEXA) last announced its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. Equities analysts expect that Nexa Resources will post 2.7 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.