Allianz Asset Management GmbH Takes Position in Nexa Resources S.A. $NEXA

Allianz Asset Management GmbH acquired a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 296,529 shares of the company's stock, valued at approximately $3,630,000. Allianz Asset Management GmbH owned about 0.22% of Nexa Resources at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Nexa Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company's stock worth $3,654,000 after purchasing an additional 26,829 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of 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. Millennium Management LLC increased its holdings in shares of Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company's stock valued at $365,000 after purchasing an additional 40,535 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Nexa Resources during the third quarter worth approximately $134,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in Nexa Resources during the fourth quarter worth approximately $44,000.

Analysts Set New Price Targets

A number of equities 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. Scotiabank lifted their target price on shares of Nexa Resources from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Friday, August 28th. Citigroup boosted their target price on shares of Nexa Resources from $12.50 to $16.00 and gave the company a "neutral" rating in a report on Wednesday, June 3rd. Morgan Stanley increased their price target on shares of Nexa Resources from $11.50 to $12.50 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. Finally, Bank of America raised 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. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $14.60.

Nexa Resources Stock Performance

NYSE:NEXA opened at $14.08 on Wednesday. Nexa Resources S.A. has a 52 week low of $4.80 and a 52 week high of $16.89. The company has a fifty day simple moving average of $13.64 and a two-hundred day simple moving average of $13.21. 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 company has a market cap of $1.86 billion, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 0.16 and a beta of 0.95.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07). Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%.The company had revenue of $907.93 million for the quarter, compared to analysts' expectations of $906.52 million. As a group, equities analysts anticipate that Nexa Resources S.A. will post 2.59 earnings per share for the current fiscal year.

Nexa Resources Company Profile

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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