Nexa Resources S.A. (NYSE:NEXA) Stock Has Average Target Price of $14.14

Key Points

• Analysts’ consensus is “Hold,” with one sell, four hold, one buy, and one strong-buy rating; the average 12-month price target is $14.14.
• Nexa reported quarterly EPS of $0.87, beating the $0.61 consensus estimate, while revenue of $937.1 million fell short of expectations of $952.1 million.
• Shares recently traded at $11.18, below the average analyst target; several institutional investors initiated or increased positions during the third quarter.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) has been given an average rating of "Hold" by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.14.

NEXA has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the company a "neutral" rating in a research report on Friday, July 24th. Morgan Stanley raised Nexa Resources from an "equal weight" rating to an "overweight" rating and set a $14.20 target price on the stock in a research note on Tuesday, October 6th. Zacks Research upgraded Nexa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Citigroup dropped their price target on Nexa Resources from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Scotiabank upped their price objective on Nexa Resources from $14.00 to $15.00 and gave the stock a "sector perform" rating in a report on Friday, August 28th.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Entropy Technologies LP purchased a new position in Nexa Resources in the 3rd quarter worth $468,000. Jump Financial LLC purchased a new stake in Nexa Resources during the third quarter valued at about $2,144,000. Hartree Partners LP purchased a new stake in Nexa Resources during the third quarter valued at about $234,000. Independent Advisor Alliance purchased a new stake in Nexa Resources during the third quarter valued at about $370,000. Finally, Virtus Advisers LLC grew its stake in shares of Nexa Resources by 25.0% during the third quarter. Virtus Advisers LLC now owns 21,049 shares of the company's stock valued at $257,000 after buying an additional 4,216 shares during the last quarter.

Nexa Resources Price Performance

Shares of NEXA traded down $0.25 during trading hours on Friday, reaching $11.18. 681,834 shares of the company's stock traded hands, compared to its average volume of 656,548. The stock has a market cap of $1.48 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.13 and a beta of 0.94. The company has a current ratio of 0.82, a quick ratio of 0.48 and a debt-to-equity ratio of 1.12. The firm's 50 day simple moving average is $12.35 and its 200-day simple moving average is $12.93. Nexa Resources has a 12 month low of $5.95 and a 12 month high of $16.89.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.26. Nexa Resources had a net margin of 4.00% and a return on equity of 27.88%. The company had revenue of $937.13 million for the quarter, compared to analysts' expectations of $952.11 million. Equities analysts expect that Nexa Resources will post 2.69 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.