Arrowstreet Capital Limited Partnership Acquires Shares of 264,568 Nexa Resources SA (NEXA)
Arrowstreet Capital Limited Partnership acquired a new position in shares of Nexa Resources SA (NYSE:NEXA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 264,568 shares of the company’s stock, valued at approximately $5,188,000.
Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of Nexa Resources during the 4th quarter worth about $123,000. Virtu Financial LLC bought a new position in shares of Nexa Resources during the 4th quarter worth about $242,000. Wells Fargo & Company MN bought a new position in shares of Nexa Resources during the 4th quarter worth about $1,166,000. BlackRock Inc. bought a new position in shares of Nexa Resources during the 4th quarter worth about $2,482,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Nexa Resources during the 4th quarter worth about $2,496,000. 3.73% of the stock is owned by institutional investors.
A number of research firms have recently commented on NEXA. JPMorgan Chase & Co. began coverage on shares of Nexa Resources in a report on Tuesday, November 21st. They set an “overweight” rating and a $23.00 price objective for the company. Zacks Investment Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a report on Wednesday, January 24th. Scotiabank reduced their price objective on shares of Nexa Resources from $25.50 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 price objective (up from $23.00) on shares of Nexa Resources in a report on Wednesday, February 21st. Finally, Citigroup began coverage on shares of Nexa Resources in a report on Tuesday, November 21st. They set a “buy” rating and a $19.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.37.
Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). Nexa Resources had a net margin of 6.75% and a return on equity of 5.81%. The firm had revenue of $736.70 million for the quarter, compared to the consensus estimate of $677.86 million. equities analysts predict that Nexa Resources SA will post 2.25 earnings per share for the current fiscal year.
The company also recently declared a Not Available dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, March 13th.
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Nexa Resources Profile
Nexa Resources SA, formerly VM Holding SA, is a Luxembourg-based company engaged in the mineral resources industry. The Company is a metals and mining entity mainly engaged in zinc content production, and whose product portfolio also includes copper, lead, silver and gold. Its mining and smelting presence is located in Brazil, conducted by Votorantim Metais Zinco SA, and in Peru, conducted by Compania Minera Milpo SAA, and Votorantim Metais-Cajamarquilla SA.
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