Nexa Resources (NYSE:NEXA) Reaches New 52-Week Low on Analyst Downgrade

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) shares hit a new 52-week low during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $8.00 to $7.00. Royal Bank of Canada currently has a sector perform rating on the stock. Nexa Resources traded as low as $4.90 and last traded at $4.94, with a volume of 16454 shares traded. The stock had previously closed at $4.95.

Several other research analysts have also issued reports on the stock. Bank of America dropped their price target on shares of Nexa Resources from $8.00 to $6.50 and set an "underperform" rating for the company in a research report on Monday, March 10th. BMO Capital Markets initiated coverage on shares of Nexa Resources in a report on Wednesday, April 16th. They set a "market perform" rating and a $6.00 price objective for the company. Finally, Scotiabank reaffirmed an "underperform" rating on shares of Nexa Resources in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, Nexa Resources presently has a consensus rating of "Hold" and a consensus target price of $6.46.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP increased its position in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 628,414 shares of the company's stock after acquiring an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 as of its most recent filing with the Securities and Exchange Commission.

Nexa Resources Price Performance

The company has a market capitalization of $637.56 million, a PE ratio of -3.13 and a beta of 1.05. The firm's 50-day moving average is $5.59 and its 200-day moving average is $6.27. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39.

Nexa Resources (NYSE:NEXA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $627.12 million for the quarter, compared to the consensus estimate of $635.17 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. Equities analysts predict that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.

Nexa Resources Dividend Announcement

The firm also recently disclosed a -- dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be paid a $0.1012 dividend. The ex-dividend date is Tuesday, June 10th. Nexa Resources's dividend payout ratio (DPR) is -25.98%.

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.