Nexa Resources (NYSE:NEXA) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Nexa Resources (NYSE:NEXA) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Several other analysts have also recently commented on NEXA. Bank of America raised their target price on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Morgan Stanley boosted their price target on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Citigroup increased their price target on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Scotiabank raised their price target on Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research note on Monday, July 20th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $14.60.

Nexa Resources Trading Up 7.8%

Shares of NYSE:NEXA opened at $13.11 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13. The company’s 50-day moving average price is $13.52 and its 200 day moving average price is $12.87. The company has a market cap of $1.74 billion, a PE ratio of 8.30, a P/E/G ratio of 0.13 and a beta of 0.94. Nexa Resources has a fifty-two week low of $4.61 and a fifty-two week high of $16.89.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. Sell-side analysts anticipate that Nexa Resources will post 2.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEXA. Dimensional Fund Advisors LP raised its position in Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Nexa Resources by 142.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after purchasing an additional 35,411 shares in the last quarter. Millennium Management LLC grew its stake in shares of Nexa Resources by 124.1% in the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Nexa Resources in the 3rd quarter worth approximately $134,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Nexa Resources by 283.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock worth $390,000 after purchasing an additional 32,581 shares in 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.