Nexa Resources (NYSE:NEXA) Stock Rating Upgraded by 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 note issued to investors on Sunday.

Several other brokerages have also commented on NEXA. Scotiabank restated a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Morgan Stanley set a $7.70 target price on shares of Nexa Resources and gave the stock an “underweight” rating in a report on Monday, December 15th. JPMorgan Chase & Co. boosted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Finally, Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.81.

Nexa Resources Trading Up 13.3%

Shares of NYSE NEXA opened at $13.62 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average price of $11.36 and a 200 day moving average price of $7.70. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $14.94.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.45 by $0.15. The company had revenue of $903.00 million for the quarter, compared to the consensus estimate of $823.27 million. Nexa Resources had a return on equity of 12.11% and a net margin of 4.42%. As a group, equities analysts forecast that Nexa Resources will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NEXA. XTX Topco Ltd acquired a new position in Nexa Resources during the fourth quarter worth $645,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Nexa Resources during the 4th quarter worth about $88,000. Quadrature Capital Ltd acquired a new position in shares of Nexa Resources during the 4th quarter worth about $394,000. Millennium Management LLC lifted its stake in Nexa Resources by 249.4% in the 4th quarter. Millennium Management LLC now owns 255,757 shares of the company’s stock valued at $2,263,000 after buying an additional 182,567 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in Nexa Resources by 69.7% in the 4th quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock worth $155,000 after buying an additional 7,206 shares during 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.