Nexa Resources (NYSE:NEXA) Price Target Cut to $11.00 by Analysts at Citigroup

Nexa Resources (NYSE:NEXA) had its price objective decreased by Citigroup from $13.00 to $11.00 in a research report sent to investors on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

NEXA has been the topic of several other research reports. Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. lifted their target price 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, Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.87.

Nexa Resources Trading Down 4.5%

Nexa Resources stock opened at $9.61 on Thursday. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $14.94. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.12 and a beta of 0.53. 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’s 50 day moving average price is $11.88 and its two-hundred day moving average price is $8.48.

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

Nexa Resources Announces Dividend

The firm 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 dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources’s payout ratio is currently 13.00%.

Institutional Trading of Nexa Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXA. GSA Capital Partners LLP increased its position in Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after buying an additional 2,504 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexa Resources in the fourth quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Nexa Resources in the fourth quarter valued at approximately $44,000. Hsbc Holdings PLC grew its stake in shares of Nexa Resources by 47.0% in the fourth quarter. Hsbc Holdings PLC now owns 16,454 shares of the company’s stock worth $145,000 after acquiring an additional 5,263 shares during the last quarter. Finally, Engineers Gate Manager LP grew its stake in shares of Nexa Resources by 69.7% in the fourth quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock worth $155,000 after acquiring an additional 7,206 shares during the last quarter.

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.