Nexa Resources S.A. (NYSE:NEXA) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Nexa Resources has a consensus “Reduce” rating from seven analysts: one recommends selling and six advise holding. The average 12-month price target is $14.60, compared with the stock’s reported $13.58 price.
• The company reported quarterly earnings of $0.64 per share, missing the $0.71 consensus estimate, while revenue of $907.93 million slightly exceeded forecasts.
• Several institutional investors established new positions in Nexa Resources during the second quarter, while the stock has traded between $4.79 and $16.89 over the past year and currently has a market capitalization of approximately $1.80 billion.

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) have earned an average rating of "Reduce" from the seven analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.60.

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Nexa Resources from a "strong-buy" rating to a "buy" rating in a report on Tuesday, July 28th. Morgan Stanley boosted their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Citigroup upped their price target on shares of Nexa Resources from $12.50 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, June 3rd. Zacks Research downgraded shares of Nexa Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 8th. Finally, Bank of America lifted their price target on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Triumph Capital Management bought a new stake in shares of Nexa Resources in the 2nd quarter valued at about $395,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Nexa Resources in the second quarter valued at about $176,000. Two Sigma Securities LLC bought a new position in shares of Nexa Resources during the second quarter worth about $164,000. Kingsview Wealth Management LLC bought a new position in shares of Nexa Resources during the second quarter worth about $399,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Nexa Resources in the second quarter worth approximately $374,000.

Nexa Resources Price Performance

Shares of NEXA opened at $13.58 on Tuesday. Nexa Resources has a 12-month low of $4.79 and a 12-month high of $16.89. The business has a 50-day simple moving average of $13.51 and a two-hundred day simple moving average of $13.13. The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.80 billion, a PE ratio of 6.50, a PEG ratio of 0.15 and a beta of 0.94.

Nexa Resources (NYSE:NEXA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The firm had revenue of $907.93 million for 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%. Analysts anticipate that Nexa Resources will post 2.59 earnings per share for the current fiscal 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.

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