Nexa Resources S.A. (NYSE:NEXA) Receives Consensus Rating of “Hold” from Brokerages

Nexa Resources S.A. (NYSE:NEXA) has been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.0333.

NEXA has been the topic of a number of recent research reports. Zacks Research upgraded shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Wall Street Zen raised Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 1st. Scotiabank reiterated a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Citigroup raised their target price on Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th.

Nexa Resources Stock Performance

Shares of NYSE NEXA opened at $11.12 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.28. Nexa Resources has a one year low of $4.44 and a one year high of $14.94. The business’s fifty day moving average price is $11.75 and its 200-day moving average price is $8.03.

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

Nexa Resources Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be issued a $0.1321 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources’s dividend payout ratio (DPR) is presently 10.00%.

Institutional Investors Weigh In On Nexa Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sagil Capital LLP bought a new stake in shares of Nexa Resources during the 4th quarter worth $11,651,000. Marshall Wace LLP purchased a new stake in Nexa Resources during the fourth quarter valued at about $8,653,000. Walleye Capital LLC purchased a new position in shares of Nexa Resources in the 4th quarter worth about $4,628,000. Renaissance Technologies LLC boosted its holdings in shares of Nexa Resources by 120.8% in the 4th quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock worth $7,547,000 after purchasing an additional 466,500 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Nexa Resources during the 4th quarter valued at about $2,404,000.

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.