Nexa Resources S.A. $NEXA Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Nexa Resources stake by 47.2% in the first quarter, adding 414,474 shares to own 1.29 million shares, or 0.98% of the company. Several other institutional investors also initiated positions.
• Analysts remain cautious: six rate NEXA as a Hold and one as a Sell, producing a consensus “Reduce” rating and a $14.40 price target, despite several recent target-price increases.
• NEXA shares opened at $14.09, while the company’s latest quarterly EPS of $0.64 fell short of the $0.71 consensus estimate; revenue of $907.93 million slightly exceeded expectations.

Dimensional Fund Advisors LP grew its holdings in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 47.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,292,701 shares of the company's stock after buying an additional 414,474 shares during the quarter. Dimensional Fund Advisors LP owned 0.98% of Nexa Resources worth $13,684,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Nexa Resources during the 4th quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources in the 4th quarter worth $44,000. New York State Common Retirement Fund acquired a new position in Nexa Resources during the fourth quarter worth $83,000. Susquehanna Portfolio Strategies LLC acquired a new position in Nexa Resources during the fourth quarter worth $88,000. Finally, Susquehanna International Group LLP purchased a new position in Nexa Resources during the third quarter valued at $134,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEXA. Morgan Stanley lifted their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Zacks Research lowered shares of Nexa Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 8th. Scotiabank reiterated a "sector perform" rating and issued a $14.00 price objective on shares of Nexa Resources in a report on Friday. Finally, Citigroup boosted their price objective on Nexa Resources from $12.50 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 3rd. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $14.40.

Nexa Resources Trading Down 1.4%

Shares of NEXA stock opened at $14.09 on Friday. The stock's fifty day moving average is $13.39 and its two-hundred day moving average is $12.95. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.54 and a current ratio of 0.80. The firm has a market capitalization of $1.87 billion, a P/E ratio of 6.74, a PEG ratio of 0.15 and a beta of 0.94. Nexa Resources S.A. has a fifty-two week low of $4.70 and a fifty-two week high of $16.89.

Nexa Resources (NYSE:NEXA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The business had revenue of $907.93 million for the quarter, compared to analysts' expectations of $906.52 million. Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%. Research analysts expect that Nexa Resources S.A. will post 2.7 earnings per share for the current fiscal year.

Nexa Resources 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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