Nexa Resources S.A. (NYSE:NEXA) Receives Average Rating of "Reduce" from Brokerages

Key Points

• Analysts rate Nexa Resources “Reduce” overall: Of seven covering firms, one recommends selling and six recommend holding. The average 12-month price target is $14.60.
• Several brokerages raised their price targets, including Citigroup to $16.00 and Scotiabank to $15.00, while Bank of America maintained an “underperform” rating with a $14.00 target.
• Nexa reported quarterly EPS of $0.64, below the $0.71 consensus estimate, although revenue of $907.93 million slightly exceeded expectations. Shares opened at $14.30, up 1.8%.

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) have been given a consensus rating of "Reduce" by the seven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.60.

A number of brokerages have recently issued reports on NEXA. Wall Street Zen cut Nexa Resources from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "hold (c)" rating on shares of Nexa Resources in a report on Monday, July 20th. Scotiabank raised their price target on Nexa Resources from $14.50 to $15.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 7th. Citigroup lifted their price target on Nexa Resources from $12.50 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 3rd. Finally, Bank of America boosted their price objective on Nexa Resources from $12.00 to $14.00 and gave the company an "underperform" rating in a research report on Thursday, July 9th.

Institutional Investors Weigh In On Nexa Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in Nexa Resources in the 2nd quarter worth $28,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Nexa Resources during the fourth quarter valued at about $36,000. Royal Bank of Canada boosted its holdings in shares of Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company's stock worth $47,000 after purchasing an additional 2,784 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Nexa Resources during the fourth quarter worth about $44,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Nexa Resources in the fourth quarter worth about $83,000.

Nexa Resources Trading Up 1.8%

Shares of NEXA opened at $14.30 on Friday. Nexa Resources has a fifty-two week low of $4.70 and a fifty-two week high of $16.89. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 0.15 and a beta of 0.94. The firm has a 50 day moving average price of $13.41 and a 200-day moving average price of $12.95. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The business had revenue of $907.93 million during the quarter, compared to analysts' expectations of $906.52 million. Nexa Resources had a return on equity of 20.93% and a net margin of 8.02%. As a group, equities research analysts forecast that Nexa Resources will post 2.7 earnings per share for the current year.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.

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