Nexa Resources S.A. (NYSE:NEXA) Receives Consensus Rating of “Hold” from Analysts

Nexa Resources S.A. (NYSE:NEXA) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.4250.

A number of analysts have recently issued reports on the company. Citigroup raised their price objective on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Wall Street Zen cut Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Scotiabank lifted their price target on Nexa Resources from $14.00 to $14.50 and gave the stock a “sector perform” rating in a report on Monday, June 15th.

Nexa Resources Stock Performance

NEXA opened at $13.97 on Thursday. Nexa Resources has a 12-month low of $4.44 and a 12-month high of $16.89. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.32 and a beta of 0.89. The business has a 50 day moving average of $14.35 and a 200-day moving average of $11.99. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 1.13.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The company had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. On average, equities research analysts expect that Nexa Resources will post 2.81 earnings per share for the current year.

Institutional Trading of Nexa Resources

Several hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its holdings in Nexa Resources by 7.5% during the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after purchasing an additional 2,504 shares during the last quarter. Royal Bank of Canada lifted its holdings in Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after purchasing an additional 2,784 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Nexa Resources by 17.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,333 shares of the company’s stock valued at $203,000 after acquiring an additional 2,879 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources in the 4th quarter valued at $36,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in Nexa Resources in the 4th quarter valued at $44,000.

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.