Nexa Resources (NYSE:NEXA) PT Set at $4.00 by Scotiabank

Key Points

• Scotiabank has reduced the price target for Nexa Resources from $4.50 to $4.00, reflecting a potential downside of 15.88% from the current stock price.
• Following the downgrade, three analysts rated the stock as a sell, while two assigned a hold rating, leading to a consensus rating of "Reduce" with an average target price of $5.70.
• The company's recent earnings report showed better-than-expected results, with $708.42 million in revenue, outperforming analysts' expectations of $625.20 million.

Scotiabank set a $4.00 price target on Nexa Resources (NYSE:NEXA - Free Report) in a research note released on Tuesday morning, MarketBeat reports. The firm currently has a sector underperform rating on the stock.

Several other equities analysts also recently commented on the stock. BMO Capital Markets initiated coverage on shares of Nexa Resources in a research note on Wednesday, April 16th. They issued a "market perform" rating and a $6.00 price objective for the company. Royal Bank Of Canada dropped their price objective on shares of Nexa Resources from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research note on Wednesday, June 4th. Finally, Morgan Stanley lowered shares of Nexa Resources from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $7.00 to $5.00 in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to MarketBeat, Nexa Resources presently has a consensus rating of "Reduce" and an average price target of $5.70.

Nexa Resources Price Performance

NYSE:NEXA traded down $0.03 during mid-day trading on Tuesday, hitting $4.88. The company's stock had a trading volume of 5,886 shares, compared to its average volume of 28,311. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $9.61. The company has a market capitalization of $646.17 million, a price-to-earnings ratio of -7.17, a P/E/G ratio of 1.91 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.64 and a debt-to-equity ratio of 1.54. The stock has a fifty day moving average of $4.90 and a 200-day moving average of $5.40.

Nexa Resources (NYSE:NEXA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.11 EPS 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 for the quarter, compared to analyst estimates of $625.20 million. As a group, equities analysts forecast that Nexa Resources will post 1.03 EPS for the current fiscal year.

Nexa Resources Dividend Announcement

The company also recently announced a -- dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were issued a $0.1012 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. Nexa Resources's dividend payout ratio is currently -14.71%.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP increased its stake in Nexa Resources S.A. (NYSE:NEXA - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 628,414 shares of the company's stock after buying an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 as of its most recent SEC filing.

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.