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

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

Several other analysts have also issued reports on NEXA. Zacks Research upgraded shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 9th. Citigroup raised their target price on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Finally, Scotiabank lifted their price target on Nexa Resources from $14.00 to $14.50 and gave the company a “sector perform” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.43.

Nexa Resources Trading Down 0.1%

Shares of Nexa Resources stock opened at $13.03 on Friday. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 0.30 and a beta of 0.94. 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 has a 12-month low of $4.61 and a 12-month high of $16.89. The firm’s 50-day moving average price is $14.08 and its two-hundred day moving average price is $12.28.

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

Institutional Investors Weigh In On Nexa Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources in the 4th quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Nexa Resources during the fourth quarter valued at about $44,000. Royal Bank of Canada grew its holdings in shares of Nexa Resources by 173.8% during the first 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. First Affirmative Financial Network bought a new stake in shares of Nexa Resources during the third quarter worth about $63,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Nexa Resources in the fourth quarter valued at approximately $83,000.

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.