Analysts Set Nexa Resources S.A. (NYSE:NEXA) PT at $6.67

Nexa Resources S.A. (NYSE:NEXA) has received an average rating of “Reduce” from the eight research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.6714.

Several research firms recently issued reports on NEXA. JPMorgan Chase & Co. increased their target price on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Citigroup initiated coverage on shares of Nexa Resources in a report on Tuesday, September 16th. They set a “neutral” rating and a $5.50 price objective for the company. Wall Street Zen upgraded shares of Nexa Resources to a “buy” rating in a research report on Saturday, November 1st. Morgan Stanley set a $7.70 target price on shares of Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday.

Nexa Resources Stock Down 2.4%

NEXA opened at $8.86 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $9.61. The firm’s fifty day moving average is $6.93 and its 200 day moving average is $5.66. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -73.83, a price-to-earnings-growth ratio of 0.44 and a beta of 0.64.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The business had revenue of $763.52 million during the quarter, compared to analysts’ expectations of $649.86 million. On average, sell-side analysts forecast that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXA. GSA Capital Partners LLP grew 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 valued at $178,000 after buying an additional 2,504 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Nexa Resources during the 3rd quarter valued at approximately $57,000. First Affirmative Financial Network bought a new position in shares of Nexa Resources during the 3rd quarter valued at approximately $63,000. Dimensional Fund Advisors LP grew its holdings in shares of Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after purchasing an additional 26,829 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in Nexa Resources in the third quarter worth $134,000.

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.