505,000 Shares of Nexa Resources S.A. $NEXA Acquired by Ashoka WhiteOak Capital Pte Ltd

Key Points

• Ashoka WhiteOak Capital acquired 505,000 Nexa Resources shares worth approximately $6.25 million, making up about 1.8% of its portfolio and 0.38% of Nexa’s outstanding shares.
• Nexa’s latest quarterly results exceeded expectations, with EPS of $0.87 versus the $0.61 consensus, although revenue of $937.1 million fell short of estimates.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $14.94, compared with the stock’s reported price of $12.01.

Ashoka WhiteOak Capital Pte Ltd purchased a new position in Nexa Resources S.A. (NYSE:NEXA - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 505,000 shares of the company's stock, valued at approximately $6,252,000. Nexa Resources makes up approximately 1.8% of Ashoka WhiteOak Capital Pte Ltd's investment portfolio, making the stock its 16th biggest holding. Ashoka WhiteOak Capital Pte Ltd owned about 0.38% of Nexa Resources as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Nexa Resources in the second quarter worth about $28,000. Royal Bank of Canada boosted its holdings in shares of Nexa Resources by 173.8% in the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company's stock valued at $47,000 after buying an additional 2,784 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Nexa Resources in the second quarter valued at approximately $105,000. World Equity Group Inc. acquired a new stake in Nexa Resources in the second quarter valued at approximately $161,000. Finally, Two Sigma Securities LLC purchased a new position in Nexa Resources in the second quarter worth $164,000.

Nexa Resources Stock Performance

NYSE NEXA opened at $12.01 on Friday. The stock has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average of $12.98. The firm has a market capitalization of $1.59 billion, a P/E ratio of 5.75, a PEG ratio of 0.13 and a beta of 0.94. Nexa Resources S.A. has a fifty-two week low of $5.05 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.26. The firm had revenue of $937.13 million for the quarter, compared to the consensus estimate of $952.11 million. Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%. On average, equities analysts forecast that Nexa Resources S.A. will post 2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NEXA. Citigroup reissued a "neutral" rating on shares of Nexa Resources in a report on Friday, October 16th. Weiss Ratings restated a "hold (c)" rating on shares of Nexa Resources in a research note on Friday, October 16th. Zacks Research raised Nexa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Bank of America boosted their price target on Nexa Resources from $12.00 to $14.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on Nexa Resources from $7.50 to $15.50 and gave the company a "neutral" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $14.94.

Nexa Resources Company Profile

Nexa Resources SA NYSE: NEXA is a global mining and metals company focused primarily on the production of zinc, lead, copper and silver. The company also produces related byproducts and refined materials, including sulfuric acid and various metal alloys, which serve customers in industrial, infrastructure, construction and manufacturing markets.

Nexa operates an integrated platform that includes underground and open-pit mines, mineral-processing facilities and zinc smelters. Its principal mining and metallurgical operations are located in Brazil and Peru, with the Cajamarquilla zinc refinery in Peru and additional mining and smelting assets in Brazil.

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