Morgan Stanley Downgrades Nexa Resources (NYSE:NEXA) to Underweight

Nexa Resources (NYSE:NEXA - Get Free Report) was downgraded by investment analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $5.00 target price on the stock, down from their prior target price of $7.00. Morgan Stanley's target price would indicate a potential upside of 5.26% from the company's previous close.

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

Nexa Resources Stock Performance

Shares of Nexa Resources stock traded down $0.08 on Tuesday, hitting $4.75. The stock had a trading volume of 21,375 shares, compared to its average volume of 48,222. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $9.61. The business's 50 day moving average is $5.00 and its two-hundred day moving average is $5.62. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 1.54. The stock has a market cap of $629.09 million, a price-to-earnings ratio of -3.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.95.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its 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 firm had revenue of $627.12 million during the quarter, compared to analyst estimates of $635.17 million. Analysts forecast that Nexa Resources will post 1.03 EPS for the current year.

Institutional Trading of Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC acquired a new stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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.