Nexa Resources S.A. (NYSE:NEXA) Given Consensus Rating of “Reduce” by Brokerages

Shares of Nexa Resources S.A. (NYSE:NEXA) have earned a consensus rating of “Reduce” from the seven brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $14.40.

NEXA has been the subject of a number of analyst reports. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 28th. Bank of America raised their target price on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Morgan Stanley boosted their price target on shares of Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Scotiabank lowered their price target on shares of Nexa Resources from $15.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th.

Nexa Resources Price Performance

NEXA opened at $14.28 on Friday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 0.16 and a beta of 0.94. Nexa Resources has a fifty-two week low of $4.70 and a fifty-two week high of $16.89. The company’s 50-day moving average price is $13.30 and its 200 day moving average price is $13.01. The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The company had revenue of $907.93 million during the quarter, compared to analyst estimates of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. As a group, sell-side analysts expect that Nexa Resources will post 2.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in shares of Nexa Resources during the second quarter valued at $105,000. Virtus Advisers LLC acquired a new stake in Nexa Resources in the second quarter worth about $206,000. BlackRock Inc. acquired a new stake in Nexa Resources in the second quarter worth about $4,425,000. State of Wyoming bought a new position in Nexa Resources in the 2nd quarter valued at about $271,000. Finally, GSA Capital Partners LLP acquired a new position in Nexa Resources during the 2nd quarter valued at about $596,000.

About Nexa Resources

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.