Nexa Resources S.A. (NYSE:NEXA) Receives $7.74 Consensus Price Target from Brokerages

Shares of Nexa Resources S.A. (NYSE:NEXA) have earned a consensus rating of “Reduce” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.7429.

A number of analysts have recently weighed in on NEXA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Citigroup increased their price target on Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the stock an “underweight” rating in a research note on Monday, December 15th. Scotiabank reiterated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th.

Nexa Resources Trading Down 6.6%

NYSE:NEXA opened at $11.14 on Friday. Nexa Resources has a 1 year low of $4.44 and a 1 year high of $14.94. The stock’s 50 day simple moving average is $10.72 and its two-hundred day simple moving average is $7.32. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37.

Institutional Investors Weigh In On Nexa Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in Nexa Resources during the 4th quarter valued at $36,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Nexa Resources during the fourth quarter worth $44,000. New York State Common Retirement Fund purchased a new stake in shares of Nexa Resources during the fourth quarter valued at $83,000. Assenagon Asset Management S.A. bought a new position in shares of Nexa Resources in the third quarter worth about $57,000. Finally, First Affirmative Financial Network purchased a new position in Nexa Resources in the 3rd quarter worth about $63,000.

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.