Nexa Resources S.A. (NYSE:NEXA) Stock Has Average Target Price of $14.60

Shares of Nexa Resources S.A. (NYSE:NEXA) have been given a consensus recommendation of “Reduce” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $14.60.

NEXA has been the subject of a number of research reports. Zacks Research cut shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a report on Monday, July 20th. Bank of America boosted their target price on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Scotiabank upped their price target on Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Friday, August 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, July 24th.

Nexa Resources Trading Up 3.8%

NEXA opened at $12.25 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.80 and a quick ratio of 0.46. The company’s 50 day simple moving average is $13.48 and its two-hundred day simple moving average is $13.30. Nexa Resources has a 1-year low of $4.99 and a 1-year high of $16.89. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 0.14 and a beta of 0.94.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. The firm had revenue of $907.93 million for the quarter, compared to analysts’ expectations of $906.52 million. Analysts expect that Nexa Resources will post 2.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NEXA. Financial Management Professionals Inc. purchased a new position in Nexa Resources in the second quarter valued at approximately $28,000. Royal Bank of Canada lifted its position in Nexa Resources by 173.8% in the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after acquiring an additional 2,784 shares during the last quarter. Quantbot Technologies LP acquired a new position in Nexa Resources in the second quarter valued at $105,000. World Equity Group Inc. acquired a new position in Nexa Resources in the second quarter valued at $161,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Nexa Resources in the 2nd quarter valued at about $164,000.

Nexa Resources Company Profile

Nexa Resources SA is a mining and metals company focused primarily on the exploration, extraction, processing and production of zinc, lead, copper and silver. The company also produces sulfuric acid and other related byproducts and specialty metals through its integrated mining and smelting operations.

Nexa operates mines and metallurgical facilities in Brazil and Peru, serving industrial customers and markets that use zinc and other base metals in applications such as galvanizing, construction, transportation, infrastructure and manufacturing.