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

Key Points

• Consensus "Reduce" — Eight brokerages give Nexa Resources an average recommendation of "Reduce" (one sell, seven holds) with a 12‑month average price target of about $8.87.
• Q4 results beat expectations: Nexa reported $0.60 EPS vs $0.45 expected and revenue of $903M vs $823M, and it declared a special dividend of $0.1321 per share payable Aug 11 (ex‑dividend July 28).

Shares of Nexa Resources S.A. (NYSE:NEXA - Get Free Report) have been given an average recommendation of "Reduce" by the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $8.8667.

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Nexa Resources in a report on Monday, December 29th. Wall Street Zen raised Nexa Resources from a "buy" rating to a "strong-buy" rating in a research note on Sunday, March 1st. Zacks Research cut Nexa Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Scotiabank lowered their price objective on Nexa Resources to $14.00 and set a "sector perform" rating for the company in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the company a "neutral" rating in a report on Thursday, February 26th.

Hedge Funds Weigh In On Nexa Resources

A number of hedge funds have recently modified their holdings of NEXA. Dimensional Fund Advisors LP increased its holdings in Nexa Resources by 19.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 878,227 shares of the company's stock valued at $7,774,000 after purchasing an additional 146,051 shares during the period. Walleye Capital LLC acquired a new position in Nexa Resources during the 4th quarter worth about $4,628,000. Jane Street Group LLC acquired a new position in Nexa Resources during the 4th quarter worth about $2,404,000. Jump Financial LLC bought a new stake in shares of Nexa Resources in the 4th quarter valued at about $1,937,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Nexa Resources in the 4th quarter valued at about $394,000.

Nexa Resources Stock Performance

NYSE NEXA opened at $11.01 on Friday. The firm's fifty day moving average price is $11.66 and its two-hundred day moving average price is $8.72. The stock has a market cap of $1.46 billion, a PE ratio of 11.01, a PEG ratio of 0.14 and a beta of 0.62. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $14.94. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87.

Nexa Resources (NYSE:NEXA - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.15. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%.The company had revenue of $903.00 million during the quarter, compared to analysts' expectations of $823.27 million. On average, equities analysts expect that Nexa Resources will post 1.03 EPS for the current fiscal year.

Nexa Resources Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, July 28th will be paid a dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources's dividend payout ratio (DPR) is presently 10.00%.

Nexa Resources Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.