Nexa Resources S.A. (NYSE:NEXA) Receives $8.03 Consensus Price Target from Brokerages

Shares of Nexa Resources S.A. (NYSE:NEXA) have received a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.0333.

A number of equities analysts have recently issued reports on NEXA shares. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the stock an “underweight” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. increased their target price on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Thursday, February 26th. Wall Street Zen raised Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th.

Nexa Resources Price Performance

NEXA opened at $11.42 on Tuesday. The firm has a 50 day moving average price of $11.91 and a 200-day moving average price of $8.12. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $14.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.87 and a quick ratio of 0.58.

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

Nexa Resources Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be issued a dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources’s dividend payout ratio is currently 10.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP grew its position in shares of Nexa Resources by 7.5% during the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after acquiring an additional 2,504 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Nexa Resources in the 4th quarter worth $36,000. Nano Cap New Millennium Growth Fund L P bought a new position in Nexa Resources in the 4th quarter worth $44,000. Engineers Gate Manager LP lifted its position in Nexa Resources by 69.7% during the fourth quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock valued at $155,000 after purchasing an additional 7,206 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position 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.