Nexa Resources S.A. (NYSE:NEXA) Stock Has Consensus Target Price of $14.60 According to Brokerages

Key Points

• Analysts remain cautious: Nexa Resources has a consensus “Reduce” rating, with one sell and six hold recommendations. The average 12-month price target is $14.60, above the recent $12.42 share price.
• Recent quarterly results fell short on earnings: Nexa reported $0.64 in EPS versus the $0.71 consensus estimate, while revenue of $907.93 million slightly exceeded expectations.
• The stock has pulled back but remains within a wide trading range: Shares were down 1.7%, with a 52-week range of $4.91 to $16.89 and a market capitalization of approximately $1.64 billion. Several institutional investors recently initiated or increased their positions.

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) have been given a consensus rating of "Reduce" by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $14.60.

A number of equities analysts have recently issued reports on NEXA shares. Scotiabank upped their price target on Nexa Resources from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Friday, August 28th. Morgan Stanley raised their price objective on Nexa Resources from $11.50 to $12.50 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Bank of America boosted their target price on Nexa Resources from $12.00 to $14.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th. Citigroup upped their target price on Nexa Resources from $12.50 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Nexa Resources in a research note on Monday, July 20th.

Hedge Funds Weigh In On Nexa Resources

Hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. acquired a new stake in Nexa Resources in the 2nd quarter worth approximately $28,000. Royal Bank of Canada increased its stake in Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company's stock valued at $47,000 after purchasing an additional 2,784 shares in the last quarter. Hsbc Holdings PLC increased its stake in Nexa Resources by 17.5% during the 1st quarter. Hsbc Holdings PLC now owns 19,333 shares of the company's stock valued at $203,000 after purchasing an additional 2,879 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Nexa Resources in the second quarter worth $105,000. Finally, World Equity Group Inc. purchased a new position in shares of Nexa Resources in the second quarter worth $161,000.

Nexa Resources Stock Down 1.7%

NYSE:NEXA opened at $12.42 on Friday. Nexa Resources has a fifty-two week low of $4.91 and a fifty-two week high of $16.89. The stock has a market capitalization of $1.64 billion, a P/E ratio of 5.94, a P/E/G ratio of 0.15 and a beta of 0.95. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80. The company's 50-day simple moving average is $13.55 and its 200-day simple moving average is $13.27.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). The firm had revenue of $907.93 million for the quarter, compared to the consensus estimate of $906.52 million. Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%. On average, equities 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 global mining and metals company focused primarily on the exploration, mining, processing and production of zinc. The company also produces lead, silver, copper and related by-products, including sulfuric acid and specialty alloys, through its integrated mining and smelting operations.

Nexa operates mines and metallurgical facilities in Brazil and Peru, serving customers in the Americas and other international markets. Its assets include zinc mines such as Vazante and Aripuanã in Brazil and Cerro Lindo and El Porvenir in Peru, as well as zinc smelters including Cajamarquilla in Peru and facilities in Brazil.

The company traces its origins to the metals operations of Brazilian industrial group Votorantim and adopted the Nexa Resources name in connection with its 2017 public listing.

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.