Nexa Resources (NYSE:NEXA) Stock Rating Upgraded by Wall Street Zen

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

Several other research firms also recently issued reports on NEXA. Morgan Stanley set a $7.70 price objective on Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. Scotiabank reissued a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. JPMorgan Chase & Co. raised 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. Finally, Citigroup boosted their target price on Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $7.74.

Nexa Resources Stock Up 4.8%

NYSE NEXA opened at $12.37 on Friday. The stock has a fifty day simple moving average of $10.07 and a 200-day simple moving average of $6.97. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $14.94.

Institutional Investors Weigh In On Nexa Resources

Several large investors have recently modified their holdings of the company. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Nexa Resources in the 4th quarter valued at $44,000. Assenagon Asset Management S.A. purchased a new position in Nexa Resources during the 3rd quarter worth $57,000. First Affirmative Financial Network acquired a new position in Nexa Resources in the third quarter valued at $63,000. Susquehanna International Group LLP purchased a new stake in shares of Nexa Resources in the third quarter valued at about $134,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Nexa Resources by 7.5% during the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after buying an additional 2,504 shares during the period.

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.