Nexa Resources S.A. (NYSE:NEXA) Receives Average Rating of “Reduce” from Brokerages

Shares of Nexa Resources S.A. (NYSE:NEXA) have received a consensus recommendation of “Reduce” from the eight ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.6714.

A number of research firms recently issued reports on NEXA. Wall Street Zen upgraded Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 22nd. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the stock an “underweight” rating in a report on Monday, December 15th. Scotiabank boosted their price objective on shares of Nexa Resources from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Monday, November 3rd. Finally, Citigroup began coverage on shares of Nexa Resources in a report on Tuesday, September 16th. They set a “neutral” rating and a $5.50 target price on the stock.

Institutional Investors Weigh In On Nexa Resources

Hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new position in shares of Nexa Resources in the third quarter worth about $57,000. First Affirmative Financial Network bought a new position in Nexa Resources during the 3rd quarter worth approximately $63,000. Susquehanna International Group LLP purchased a new position in Nexa Resources in the 3rd quarter worth approximately $134,000. GSA Capital Partners LLP lifted its position in Nexa Resources by 7.5% in the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after purchasing an additional 2,504 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in Nexa Resources by 142.4% in the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after purchasing an additional 35,411 shares during the last quarter.

Nexa Resources Price Performance

NEXA opened at $8.93 on Thursday. The firm has a 50-day moving average price of $6.79 and a 200-day moving average price of $5.61. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $9.61. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -74.39, a PEG ratio of 0.46 and a beta of 0.64.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.14). Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The business had revenue of $763.52 million during the quarter, compared to the consensus estimate of $649.86 million. Equities analysts expect that Nexa Resources will post 1.03 EPS for the current year.

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.