Nexa Resources S.A. (NYSE:NEXA) Receives $6.67 Consensus Target Price from Analysts

Shares of Nexa Resources S.A. (NYSE:NEXA) have received a consensus recommendation of “Reduce” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $6.6714.

Several research firms have issued reports on NEXA. JPMorgan Chase & Co. increased their price objective on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Scotiabank boosted their price objective on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Finally, Morgan Stanley set a $7.70 target price on shares of Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th.

Nexa Resources Price Performance

Shares of NYSE:NEXA opened at $13.18 on Monday. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $13.87. The company has a 50-day moving average price of $8.73 and a 200 day moving average price of $6.37. The company has a market cap of $1.63 billion, a P/E ratio of -109.83, a PEG ratio of 0.31 and a beta of 0.57. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.14). The business had revenue of $763.52 million for the quarter, compared to analyst estimates of $649.86 million. Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%. Research analysts predict that Nexa Resources will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

Several hedge funds and other institutional investors have recently bought and sold shares of NEXA. Assenagon Asset Management S.A. raised its holdings in shares of Nexa Resources by 283.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock worth $390,000 after acquiring an additional 32,581 shares during the last quarter. First Affirmative Financial Network purchased a new stake in Nexa Resources during the 3rd quarter worth about $63,000. Susquehanna International Group LLP acquired a new position in Nexa Resources in the 3rd quarter valued at about $134,000. Millennium Management LLC lifted its holdings in Nexa Resources by 124.1% in the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after purchasing an additional 40,535 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in Nexa Resources by 142.4% in 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.

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.