Nexa Resources (NYSE:NEXA) Raised to Strong-Buy at Wall Street Zen

Nexa Resources (NYSE:NEXA) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

NEXA has been the topic of several other research reports. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Citigroup raised their target price on shares of Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Finally, Scotiabank restated a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Six analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $7.74.

Nexa Resources Trading Up 4.8%

Shares of NYSE NEXA opened at $12.37 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91. The business has a 50-day moving average of $10.07 and a 200-day moving average of $6.95. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $14.94.

Institutional Trading of Nexa Resources

Hedge funds have recently modified their holdings of the stock. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Nexa Resources during the fourth quarter worth approximately $44,000. Assenagon Asset Management S.A. acquired a new stake in Nexa Resources during the third quarter worth approximately $57,000. First Affirmative Financial Network bought a new position in Nexa Resources during the 3rd quarter worth $63,000. Susquehanna International Group LLP bought a new position in Nexa Resources during the 3rd quarter worth $134,000. Finally, GSA Capital Partners LLP raised its holdings in Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after acquiring an additional 2,504 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.