Nexa Resources S.A. (NYSE:NEXA) Given Average Recommendation of "Strong Sell" by Analysts

Key Points

• Nexa Resources S.A. has received an average recommendation of "Strong Sell" from analysts, with four recommending a sell and three a hold.
• The company's average 1-year price target among brokerages is $5.67, with recent ratings from Citigroup and Scotiabank highlighting a bearish view.
• Nexa Resources reported earnings of $0.11 per share for the last quarter, exceeding estimates, but faced a negative net margin of 3.26% and a negative return on equity of 6.54%.

Nexa Resources S.A. (NYSE:NEXA - Get Free Report) has received an average recommendation of "Strong Sell" from the seven ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.6667.

Several equities research analysts recently commented on NEXA shares. Weiss Ratings restated a "sell (e+)" rating on shares of Nexa Resources in a research report on Wednesday. Citigroup began coverage on Nexa Resources in a research note on Tuesday, September 16th. They issued a "neutral" rating and a $5.50 price target on the stock. Morgan Stanley lowered shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $7.00 to $5.00 in a research note on Tuesday, July 15th. Finally, Scotiabank set a $4.00 price objective on shares of Nexa Resources and gave the company a "sector underperform" rating in a research note on Tuesday, August 5th.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Assenagon Asset Management S.A. acquired 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,486 shares of the company's stock, valued at approximately $57,000.

Nexa Resources Price Performance

Shares of NYSE NEXA opened at $5.16 on Friday. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $9.61. The firm has a fifty day simple moving average of $4.95 and a 200 day simple moving average of $5.19. The company has a market capitalization of $683.39 million, a PE ratio of -7.59 and a beta of 0.77. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 1.54.

Nexa Resources (NYSE:NEXA - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, topping 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 the consensus estimate of $625.20 million. On average, sell-side analysts forecast that Nexa Resources will post 1.03 EPS for the current 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.

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