Nexa Resources (NYSE:NEXA) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Nexa Resources (NYSE:NEXA) from a strong sell rating to a hold rating in a research note published on Friday, Zacks.com reports.

According to Zacks, “Nexa Resources S.A. is an integrated zinc producer. It engaged in developing and operating mining and smelting assets primarily in Latin America. The Company operates and owns principally in the Central Andes of Peru and in the state of Minas Gerais in Brazil. Nexa Resources S.A. is headquartered in Luxembourg City. “

Several other equities analysts have also weighed in on NEXA. Royal Bank of Canada initiated coverage on Nexa Resources in a report on Monday, July 22nd. They set a sector perform rating and a $12.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Nexa Resources from $15.00 to $13.00 and set an overweight rating on the stock in a report on Tuesday, June 4th. Finally, BMO Capital Markets cut their target price on Nexa Resources from $15.50 to $14.75 and set a market perform rating on the stock in a report on Monday, August 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Nexa Resources presently has an average rating of Hold and an average price target of $13.71.

Shares of NYSE:NEXA opened at $8.32 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50. Nexa Resources has a 1 year low of $7.00 and a 1 year high of $13.69. The business has a fifty day simple moving average of $8.67 and a 200 day simple moving average of $10.22. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 2.27 and a beta of 0.51.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Wednesday, July 31st. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.03). Nexa Resources had a net margin of 2.82% and a return on equity of 1.02%. The company had revenue of $613.30 million for the quarter, compared to the consensus estimate of $617.65 million. On average, sell-side analysts forecast that Nexa Resources will post 0.3 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new stake in shares of Nexa Resources in the first quarter valued at about $72,000. BNP Paribas Arbitrage SA grew its position in shares of Nexa Resources by 97.2% in the first quarter. BNP Paribas Arbitrage SA now owns 7,359 shares of the company’s stock valued at $92,000 after purchasing an additional 3,627 shares during the last quarter. Northern Trust Corp grew its position in shares of Nexa Resources by 69.3% in the fourth quarter. Northern Trust Corp now owns 22,468 shares of the company’s stock valued at $267,000 after purchasing an additional 9,197 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Nexa Resources in the first quarter valued at about $691,000. Finally, Renaissance Group LLC grew its position in shares of Nexa Resources by 3.4% in the first quarter. Renaissance Group LLC now owns 59,578 shares of the company’s stock valued at $742,000 after purchasing an additional 1,937 shares during the last quarter. Institutional investors own 8.69% of the company’s stock.

Nexa Resources Company Profile

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. It also produces copper, lead, silver, and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

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