Credit Suisse Group lowered shares of Nexa Resources (NYSE:NEXA) from an outperform rating to a neutral rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has $11.00 price objective on the stock, down from their previous price objective of $12.50.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada began coverage on shares of Nexa Resources in a research report on Monday, July 22nd. They set a sector perform rating and a $12.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Nexa Resources from $13.00 to $12.00 and set an overweight rating on the stock in a research report on Tuesday, September 3rd. Zacks Investment Research raised shares of Nexa Resources from a strong sell rating to a hold rating in a research report on Friday, August 16th. Finally, BMO Capital Markets lowered their price target on shares of Nexa Resources from $15.50 to $14.75 and set a market perform rating on the stock in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $12.54.

Shares of Nexa Resources stock traded up $0.15 during trading hours on Thursday, reaching $9.60. 103,298 shares of the company’s stock were exchanged, compared to its average volume of 135,218. Nexa Resources has a 1 year low of $7.00 and a 1 year high of $13.69. The company has a market capitalization of $1.29 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 5.17 and a beta of 0.41. The business has a fifty day moving average of $8.61 and a two-hundred day moving average of $10.19. The company has a quick ratio of 1.91, a current ratio of 2.39 and a debt-to-equity ratio of 0.50.

Nexa Resources (NYSE:NEXA) last released its earnings results on Wednesday, July 31st. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.03). Nexa Resources had a return on equity of 1.02% and a net margin of 2.82%. The business had revenue of $613.30 million for the quarter, compared to analysts’ expectations of $617.65 million. As a group, research analysts predict that Nexa Resources will post 0.16 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of Nexa Resources during the 1st quarter valued at about $72,000. BNP Paribas Arbitrage SA lifted its position in Nexa Resources by 97.2% in the first quarter. BNP Paribas Arbitrage SA now owns 7,359 shares of the company’s stock valued at $92,000 after buying an additional 3,627 shares during the last quarter. Marshall Wace LLP acquired a new position in Nexa Resources in the first quarter valued at about $691,000. Bank of Montreal Can lifted its position in Nexa Resources by 13.8% in the first quarter. Bank of Montreal Can now owns 61,073 shares of the company’s stock valued at $760,000 after buying an additional 7,413 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Nexa Resources by 90.9% in the fourth quarter. Bank of America Corp DE now owns 64,487 shares of the company’s stock valued at $767,000 after buying an additional 30,708 shares during the last quarter. 7.64% of the stock is currently owned by hedge funds and other institutional investors.

About Nexa Resources

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. It also produces copper, lead, silver, and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

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Analyst Recommendations for Nexa Resources (NYSE:NEXA)

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