Nexa Resources (NYSE:NEXA) Coverage Initiated by Analysts at Citigroup

Key Points

• Nexa Resources' stock has received a "neutral" rating from Citigroup, with a target price of $5.50, indicating a potential upside of 7.32% from its current price.
• Other analysts have downgraded the stock, with Royal Bank of Canada lowering its target from $8.00 to $7.00 and Morgan Stanley cutting its rating to "underweight" with a target of $5.00.
• Despite recent challenges, Nexa Resources reported earnings of $0.11 per share, exceeding analysts' expectations, along with revenues of $708.42 million for the quarter.

Stock analysts at Citigroup assumed coverage on shares of Nexa Resources (NYSE:NEXA - Get Free Report) in a report released on Tuesday, MarketBeat reports. The brokerage set a "neutral" rating and a $5.50 price target on the stock. Citigroup's target price would indicate a potential upside of 10.66% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada reduced their target price on shares of 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 set a $4.00 price objective on shares of Nexa Resources and gave the stock a "sector underperform" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley cut shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $7.00 to $5.00 in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Nexa Resources currently has an average rating of "Reduce" and an average price target of $5.67.

Nexa Resources Stock Up 1.4%

NYSE NEXA traded up $0.07 during trading on Tuesday, reaching $4.97. The company's stock had a trading volume of 45,587 shares, compared to its average volume of 31,989. The company has a current ratio of 0.99, a quick ratio of 0.64 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $658.23 million, a PE ratio of -7.31 and a beta of 0.89. The business has a 50-day moving average price of $4.90 and a 200-day moving average price of $5.23. Nexa Resources has a 1-year low of $4.44 and a 1-year high of $9.61.

Nexa Resources (NYSE:NEXA - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.16. The firm had revenue of $708.42 million during the quarter, compared to analysts' expectations of $625.20 million. Nexa Resources had a negative net margin of 3.26% and a negative return on equity of 6.54%. On average, research analysts forecast that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Nexa Resources Company Profile

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.