Nexa Resources (NYSE:NEXA) Rating Increased 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 research note issued on Monday.

Several other brokerages have also recently commented on NEXA. Citigroup boosted their price target on shares of Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Morgan Stanley upped their target price on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Scotiabank boosted their price target on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Finally, Zacks Research downgraded Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nexa Resources currently has an average rating of “Reduce” and an average target price of $13.00.

Nexa Resources Trading Up 0.4%

NYSE NEXA opened at $12.23 on Monday. Nexa Resources has a 52 week low of $4.61 and a 52 week high of $16.89. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The stock’s 50 day moving average price is $13.80 and its two-hundred day moving average price is $12.65. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.13 and a beta of 0.94.

Nexa Resources (NYSE:NEXA) last posted 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. The company had revenue of $888.32 million for the quarter, compared to the consensus estimate of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. As a group, analysts anticipate that Nexa Resources will post 2.7 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

A number of hedge funds have recently modified their holdings of NEXA. Financial Management Professionals Inc. bought a new stake in shares of Nexa Resources during the 2nd quarter worth about $28,000. Police & Firemen s Retirement System of New Jersey bought a new position in Nexa Resources in the 4th quarter valued at about $36,000. Nano Cap New Millennium Growth Fund L P bought a new position in Nexa Resources in the 4th quarter valued at about $44,000. Royal Bank of Canada lifted its position in 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 acquiring an additional 2,784 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in Nexa Resources during the fourth quarter worth approximately $83,000.

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.