Nexa Resources (NYSE:NEXA) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Nexa Resources (NYSE:NEXA) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Nexa Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, November 9th. Morgan Stanley upgraded shares of Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 price objective on the stock in a report on Tuesday, October 6th. JPMorgan Chase & Co. boosted their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Citigroup reduced their target price on shares of Nexa Resources from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Scotiabank lifted their price target on shares of Nexa Resources from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nexa Resources currently has an average rating of “Hold” and a consensus target price of $14.14.

Nexa Resources Trading Down 2.2%

Shares of NEXA stock traded down $0.25 during trading hours on Friday, reaching $11.18. The company had a trading volume of 681,834 shares, compared to its average volume of 656,548. The company has a 50 day moving average of $12.35 and a 200 day moving average of $12.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.82 and a quick ratio of 0.48. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 0.13 and a beta of 0.94. Nexa Resources has a 1-year low of $5.95 and a 1-year high of $16.89.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.61 by $0.26. The business had revenue of $937.13 million for the quarter, compared to the consensus estimate of $952.11 million. Nexa Resources had a return on equity of 27.88% and a net margin of 4.00%. On average, equities research analysts anticipate that Nexa Resources will post 2.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NEXA. Dimensional Fund Advisors LP increased its holdings in shares of Nexa Resources by 47.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock worth $13,684,000 after acquiring an additional 414,474 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Nexa Resources by 3.2% during the 1st quarter. Renaissance Technologies LLC now owns 879,872 shares of the company’s stock worth $9,318,000 after buying an additional 27,072 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Nexa Resources by 159.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 697,972 shares of the company’s stock worth $8,508,000 after buying an additional 429,208 shares during the period. Bank of America Corp DE grew its stake in Nexa Resources by 133.6% in the 1st quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock valued at $7,778,000 after buying an additional 420,005 shares during the last quarter. Finally, Walleye Capital LLC lifted its position in Nexa Resources by 33.6% during the first quarter. Walleye Capital LLC now owns 698,458 shares of the company’s stock worth $7,397,000 after acquiring an additional 175,477 shares during the last quarter.

Nexa Resources Company Profile

Nexa Resources is a mining and metals company focused primarily on zinc. Its business spans the exploration and extraction of mineral resources as well as the processing and smelting of metals. The company produces zinc, copper and lead, along with by-products that include silver, gold and sulfuric acid. Nexa operates mines and metallurgical facilities in Brazil and Peru, serving customers in a range of industries that use refined metals and related products. Its operations include zinc mines and smelters, as well as facilities that process ore into marketable metals.