Robeco Institutional Asset Management B.V. Acquires 429,208 Shares of Nexa Resources S.A. $NEXA

Key Points

• Robeco Institutional Asset Management increased its Nexa Resources stake by 159.7% in the third quarter, adding 429,208 shares to own 697,972 shares worth approximately $8.5 million, or 0.53% of the company.
• Analyst sentiment remains mixed: Nexa has a consensus “Hold” rating and an average price target of $14.94, despite Zacks upgrading the stock to “Strong Buy.”
• Nexa reported quarterly revenue of $907.93 million but missed earnings expectations, posting EPS of $0.64 versus the $0.71 consensus estimate. Shares opened at $11.46, compared with a 52-week range of $5.05 to $16.89.

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) by 159.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 697,972 shares of the company's stock after acquiring an additional 429,208 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.53% of Nexa Resources worth $8,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in Nexa Resources in the second quarter valued at about $28,000. Royal Bank of Canada raised its holdings in Nexa Resources by 173.8% in the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company's stock worth $47,000 after acquiring an additional 2,784 shares during the period. Quantbot Technologies LP bought a new position in shares of Nexa Resources in the second quarter worth about $105,000. World Equity Group Inc. acquired a new position in shares of Nexa Resources during the second quarter worth approximately $161,000. Finally, Two Sigma Securities LLC acquired a new position in Nexa Resources during the 2nd quarter valued at $164,000.

Wall Street Analysts Forecast Growth

NEXA has been the subject of a number of research reports. Zacks Research upgraded Nexa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Citigroup reaffirmed a "neutral" rating on shares of Nexa Resources in a research note on Friday, October 16th. Wall Street Zen cut Nexa Resources from a "strong-buy" rating to a "buy" rating in a report on Tuesday, July 28th. Bank of America boosted their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $7.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Nexa Resources currently has a consensus rating of "Hold" and a consensus price target of $14.94.

Nexa Resources Stock Performance

Shares of NEXA stock opened at $11.46 on Friday. The company has a market capitalization of $1.52 billion, a P/E ratio of 5.49, a price-to-earnings-growth ratio of 0.13 and a beta of 0.94. Nexa Resources S.A. has a 52 week low of $5.05 and a 52 week high of $16.89. The company's 50 day moving average price is $13.12 and its two-hundred day moving average price is $13.53. 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 released its earnings results on Thursday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, analysts expect that Nexa Resources S.A. will post 2.69 earnings per share for the current fiscal year.

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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