Nexa Resources (NYSE:NEXA) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Nexa Resources has received a "sell (E+)" rating from Weiss Ratings, reflecting a bearish outlook from analysts.
• Morgan Stanley downgraded Nexa Resources from an "equal weight" to an "underweight" rating, with a reduced price target of $5.00 from $7.00.
• The company's stock currently has a consensus rating of "Strong Sell" with a target price of $5.67 according to MarketBeat.

Nexa Resources (NYSE:NEXA - Get Free Report)'s stock had its "sell (e+)" rating restated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the stock. Morgan Stanley lowered shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $7.00 to $5.00 in a research note on Tuesday, July 15th. Citigroup began coverage on shares of Nexa Resources in a research note on Tuesday, September 16th. They set a "neutral" rating and a $5.50 price objective for the company. Finally, Scotiabank set a $4.00 target price on Nexa Resources and gave the stock a "sector underperform" rating in a research report on Tuesday, August 5th. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Nexa Resources has a consensus rating of "Strong Sell" and a consensus target price of $5.67.

Nexa Resources Price Performance

NEXA traded up $0.03 during trading on Wednesday, reaching $5.40. 41,632 shares of the company traded hands, compared to its average volume of 32,846. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.64 and a current ratio of 0.99. Nexa Resources has a 12-month low of $4.44 and a 12-month high of $9.61. The firm has a fifty day simple moving average of $4.93 and a 200 day simple moving average of $5.19. The company has a market cap of $714.51 million, a P/E ratio of -8.05 and a beta of 0.77.

Nexa Resources (NYSE:NEXA - Get Free Report) last announced its quarterly earnings data 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. Nexa Resources had a negative net margin of 3.26% and a negative return on equity of 6.54%. The business had revenue of $708.42 million during the quarter, compared to analyst estimates of $625.20 million. On average, equities analysts forecast that Nexa Resources will post 1.03 EPS for the current year.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Assenagon Asset Management S.A. purchased a new position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,486 shares of the company's stock, valued at approximately $57,000.

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.

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