Nexa Resources (NYSE:NEXA) Lowered to “Buy” Rating by Wall Street Zen

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

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Scotiabank lowered their price objective on shares of Nexa Resources to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 23rd. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 9th. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.30.

Nexa Resources Stock Down 13.1%

Nexa Resources stock opened at $13.08 on Friday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 0.36 and a beta of 0.88. 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 company’s 50-day moving average price is $13.72 and its two-hundred day moving average price is $11.41. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $16.89.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $888.32 million for the quarter, compared to analysts’ expectations of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. On average, analysts expect that Nexa Resources will post 2.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NEXA. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Nexa Resources in the fourth quarter worth approximately $36,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Nexa Resources in the fourth quarter worth approximately $44,000. Royal Bank of Canada increased its position in shares of Nexa Resources by 173.8% in 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 in the last quarter. First Affirmative Financial Network purchased a new position in shares of Nexa Resources in the third quarter worth approximately $63,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Nexa Resources in the fourth quarter worth 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.