Nexa Resources S.A. $NEXA Stock: Robeco Institutional Asset Management B.V. Boosts Holdings

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 159.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 697,972 shares of the company’s stock after buying an additional 429,208 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Nexa Resources were worth $8,508,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Triumph Capital Management increased its position in shares of Nexa Resources by 4.4% in the third quarter. Triumph Capital Management now owns 33,704 shares of the company’s stock valued at $411,000 after acquiring an additional 1,431 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Nexa Resources during the second quarter worth about $28,000. Royal Bank of Canada raised 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 in the last quarter. Hsbc Holdings PLC raised its holdings in Nexa Resources by 17.5% during the first quarter. Hsbc Holdings PLC now owns 19,333 shares of the company’s stock worth $203,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Elevated Financial Group LLC boosted its position in Nexa Resources by 24.3% during the third quarter. Elevated Financial Group LLC now owns 33,039 shares of the company’s stock valued at $403,000 after purchasing an additional 6,453 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley upgraded Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 price target for the company in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a research report on Friday, October 16th. Scotiabank upped their price objective on Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Citigroup reiterated a “neutral” rating on shares of Nexa Resources in a research note on Friday, October 16th. Finally, JPMorgan Chase & Co. increased their price objective on Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.94.

Nexa Resources Stock Up 2.7%

Nexa Resources stock opened at $11.46 on Friday. The firm has a market capitalization of $1.52 billion, a PE ratio of 5.49, a P/E/G ratio of 0.13 and a beta of 0.94. The company’s 50-day moving average is $13.12 and its 200-day moving average is $13.53. Nexa Resources S.A. has a fifty-two week low of $5.05 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.80 and a quick ratio of 0.46.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Thursday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $906.52 million. Sell-side analysts anticipate that Nexa Resources S.A. will post 2.69 earnings per share for the current year.

About Nexa Resources

Nexa Resources SA (NYSE:NEXA) is a global mining and metals company focused primarily on the production of zinc, lead, copper and silver. The company also produces related byproducts and refined materials, including sulfuric acid and various metal alloys, which serve customers in industrial, infrastructure, construction and manufacturing markets.

Nexa operates an integrated platform that includes underground and open-pit mines, mineral-processing facilities and zinc smelters. Its principal mining and metallurgical operations are located in Brazil and Peru, with the Cajamarquilla zinc refinery in Peru and additional mining and smelting assets in Brazil.