Nexa Resources (NYSE:NEXA) Upgraded at Wall Street Zen

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

NEXA has been the subject of several other research reports. Scotiabank boosted their price objective on Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Citigroup raised their target price on shares of Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Zacks Research lowered shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, Bank of America upped their price target on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $13.00.

Nexa Resources Stock Up 6.5%

NEXA opened at $13.66 on Monday. The company has a market cap of $1.81 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.14 and a beta of 0.94. The business’s 50-day moving average price is $13.74 and its 200-day moving average price is $12.73. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. Nexa Resources has a 12 month low of $4.61 and a 12 month high of $16.89.

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

Institutional Investors Weigh In On Nexa Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sagil Capital LLP bought a new stake in shares of Nexa Resources in the 4th quarter worth approximately $11,651,000. Marshall Wace LLP bought a new position in shares of Nexa Resources during the fourth quarter valued at approximately $8,653,000. Pictet Asset Management Holding SA bought a new position in shares of Nexa Resources during the first quarter valued at approximately $7,572,000. Walleye Capital LLC purchased a new stake in Nexa Resources in the fourth quarter worth $4,628,000. Finally, Renaissance Technologies LLC lifted its stake in Nexa Resources by 120.8% in the fourth quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock worth $7,547,000 after acquiring an additional 466,500 shares during the period.

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.