Nexa Resources (NYSE:NEXA) Upgraded to “Strong-Buy” at Wall Street Zen

Nexa Resources (NYSE:NEXA) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Citigroup lifted their price target on shares of Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday. Scotiabank restated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Finally, Morgan Stanley set a $7.70 target price on Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $7.74.

Nexa Resources Trading Up 4.8%

NYSE:NEXA opened at $12.37 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. Nexa Resources has a 1-year low of $4.44 and a 1-year high of $14.94. The business’s 50-day moving average price is $10.07 and its two-hundred day moving average price is $6.95.

Institutional Trading of Nexa Resources

Institutional investors have recently modified their holdings of the company. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Nexa Resources during the fourth quarter worth about $44,000. Assenagon Asset Management S.A. lifted its stake in Nexa Resources by 283.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock valued at $390,000 after acquiring an additional 32,581 shares in the last quarter. First Affirmative Financial Network acquired a new position in Nexa Resources during the 3rd quarter worth approximately $63,000. Susquehanna International Group LLP bought a new position in shares of Nexa Resources during the 3rd quarter worth approximately $134,000. Finally, Millennium Management LLC raised its holdings in shares of Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after purchasing an additional 40,535 shares during the last quarter.

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.