Brokerages Set Nexa Resources S.A. (NYSE:NEXA) PT at $8.87

Nexa Resources S.A. (NYSE:NEXA) has earned a consensus recommendation of “Reduce” from the eight research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.8667.

A number of equities research analysts recently issued reports on NEXA shares. JPMorgan Chase & Co. increased their price target on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 1st. Citigroup dropped their target price on shares of Nexa Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sagil Capital LLP bought a new position in shares of Nexa Resources in the fourth quarter worth about $11,651,000. Marshall Wace LLP acquired a new position in shares of Nexa Resources during the fourth quarter worth $8,653,000. Dimensional Fund Advisors LP grew its position in Nexa Resources by 19.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 878,227 shares of the company’s stock worth $7,774,000 after acquiring an additional 146,051 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Nexa Resources by 120.8% during the fourth quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock valued at $7,547,000 after purchasing an additional 466,500 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Nexa Resources in the fourth quarter valued at approximately $4,628,000.

Nexa Resources Trading Down 1.4%

Shares of Nexa Resources stock opened at $10.91 on Friday. 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 50-day moving average of $11.58 and a 200-day moving average of $8.81. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $14.94. The stock has a market cap of $1.45 billion, a PE ratio of 10.91, a PEG ratio of 0.14 and a beta of 0.62.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The business had revenue of $903.00 million for the quarter, compared to analyst estimates of $823.27 million. Nexa Resources had a net margin of 4.42% and a return on equity of 11.81%. As a group, sell-side analysts forecast that Nexa Resources will post 1.03 EPS for the current year.

Nexa Resources Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, August 11th. Stockholders 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 payout ratio is 10.00%.

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.