Nexa Resources (NYSE:NEXA) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Nexa Resources (NYSE:NEXA) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Several other equities analysts have also recently weighed in on NEXA. Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Citigroup lifted their price target on Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Scotiabank reissued a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Finally, Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.74.

Nexa Resources Stock Up 2.4%

Shares of NEXA opened at $11.63 on Friday. Nexa Resources has a one year low of $4.44 and a one year high of $14.94. The company has a 50-day moving average of $11.00 and a two-hundred day moving average of $7.51. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NEXA. XTX Topco Ltd acquired a new position in Nexa Resources in the 4th quarter worth about $645,000. Susquehanna Portfolio Strategies LLC bought a new stake in shares of Nexa Resources in the 4th quarter valued at approximately $88,000. Quadrature Capital Ltd acquired a new position in Nexa Resources in the fourth quarter worth approximately $394,000. Millennium Management LLC raised its position in Nexa Resources by 249.4% during the fourth quarter. Millennium Management LLC now owns 255,757 shares of the company’s stock valued at $2,263,000 after acquiring an additional 182,567 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in Nexa Resources by 69.7% during the fourth quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock valued at $155,000 after acquiring an additional 7,206 shares in the last quarter.

Nexa Resources Company Profile

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.