Wall Street Zen Downgrades Nexa Resources (NYSE:NEXA) to Buy

Nexa Resources (NYSE:NEXA) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

NEXA has been the subject of a number of other research reports. 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. Zacks Research cut shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upped their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research report on Monday, July 20th. Finally, Bank of America raised their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $14.60.

Nexa Resources Stock Performance

NEXA opened at $12.90 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $13.61 and its 200-day moving average is $12.81. The stock has a market cap of $1.71 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 0.14 and a beta of 0.94. Nexa Resources has a twelve month low of $4.61 and a twelve month high of $16.89.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The business had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. On average, analysts predict that Nexa Resources will post 2.7 earnings per share for the current year.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in shares of Nexa Resources in the second quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources during the fourth quarter worth about $36,000. Royal Bank of Canada grew its holdings 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 period. Nano Cap New Millennium Growth Fund L P bought a new stake in Nexa Resources in the fourth quarter worth about $44,000. Finally, New York State Common Retirement Fund acquired a new stake in Nexa Resources in the 4th quarter valued at about $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.