Nexa Resources S.A. (NYSE:NEXA) Given Average Recommendation of “Hold” by Analysts

Nexa Resources S.A. (NYSE:NEXA) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.74.

Several equities research analysts have recently weighed in on NEXA shares. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup upped their price target on shares of Nexa Resources from $11.00 to $12.50 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 1st. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 9th. Finally, Scotiabank reduced their price target on shares of Nexa Resources to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 23rd.

Nexa Resources Price Performance

NEXA stock opened at $15.13 on Friday. Nexa Resources has a one year low of $4.44 and a one year high of $16.89. The company’s fifty day moving average price is $13.17 and its 200-day moving average price is $11.09. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The company has a market capitalization of $2.00 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.36 and a beta of 0.90.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $888.32 million for the quarter, compared to the consensus estimate of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. On average, equities analysts anticipate that Nexa Resources will post 2.67 EPS for the current fiscal year.

Nexa Resources Dividend Announcement

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 is Tuesday, July 28th. Nexa Resources’s dividend payout ratio is presently 6.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sagil Capital LLP purchased a new stake in shares of Nexa Resources during the fourth quarter valued at about $11,651,000. Dimensional Fund Advisors LP lifted its position in shares of Nexa Resources by 47.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock valued at $13,684,000 after buying an additional 414,474 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Nexa Resources during the fourth quarter valued at about $8,653,000. Renaissance Technologies LLC lifted its position in shares of Nexa Resources by 3.2% during the first quarter. Renaissance Technologies LLC now owns 879,872 shares of the company’s stock valued at $9,318,000 after buying an additional 27,072 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Nexa Resources by 133.6% during the first quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock valued at $7,778,000 after buying an additional 420,005 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.