Nexa Resources (NYSE:NEXA) Now Covered by 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.

Investment analysts at Citigroup started coverage on shares of Nexa Resources (NYSE:NEXA - Get Free Report) in a report issued on Tuesday, Marketbeat reports. The brokerage set a "neutral" rating and a $5.50 price target on the stock. Citigroup's price target suggests a potential upside of 6.59% from the stock's current price.

A number of other brokerages have also recently commented on NEXA. Morgan Stanley cut shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $7.00 to $5.00 in a report on Tuesday, July 15th. Scotiabank set a $4.00 target price on shares of Nexa Resources and gave the company a "sector underperform" rating in a report on Tuesday, August 5th. Finally, 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 report on Wednesday, June 4th. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $5.67.

Nexa Resources Trading Up 2.0%

Shares of NEXA stock traded up $0.10 during trading on Tuesday, hitting $5.16. 1,516 shares of the stock traded hands, compared to its average volume of 29,094. The firm has a market capitalization of $683.39 million, a P/E ratio of -7.59 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.99 and a quick ratio of 0.64. Nexa Resources has a 52-week low of $4.44 and a 52-week high of $9.61. The firm's fifty day moving average price is $4.89 and its 200-day moving average price is $5.23.

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

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.