Nexa Resources (NYSE:NEXA) Stock Rating Lowered by Morgan Stanley

Nexa Resources (NYSE:NEXA - Get Free Report) was downgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research note issued to investors on Tuesday, Marketbeat reports. They presently have a $5.00 price target on the stock, down from their prior price target of $7.00. Morgan Stanley's price target would suggest a potential upside of 3.20% from the stock's current price.

A number of other brokerages also recently commented on NEXA. Scotiabank reiterated an "underperform" rating on shares of Nexa Resources in a research note on Wednesday, May 14th. Royal Bank Of Canada lowered their target price on shares of Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Wednesday, June 4th. Finally, BMO Capital Markets initiated coverage on Nexa Resources in a research report on Wednesday, April 16th. They issued a "market perform" rating and a $6.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, Nexa Resources presently has an average rating of "Reduce" and a consensus target price of $5.90.

Nexa Resources Trading Down 3.7%

NYSE:NEXA traded down $0.19 during trading hours on Tuesday, reaching $4.85. 61,104 shares of the stock were exchanged, compared to its average volume of 48,428. The business has a 50-day moving average of $5.01 and a two-hundred day moving average of $5.65. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $9.61. The company has a market capitalization of $641.67 million, a price-to-earnings ratio of -3.81, a PEG ratio of 0.58 and a beta of 0.95. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 1.54.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Nexa Resources had a negative net margin of 5.97% and a negative return on equity of 5.97%. The business had revenue of $627.12 million during the quarter, compared to analysts' expectations of $635.17 million. On average, equities analysts predict that Nexa Resources will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC bought a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,341 shares of the company's stock, valued at approximately $126,000.

About Nexa Resources

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.