Nexa Resources S.A. (NYSE:NEXA) Receives $6.67 Consensus PT from Analysts

by · The Markets Daily

Nexa Resources S.A. (NYSE:NEXA – Get Free Report) has received an average recommendation of “Reduce” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $6.6714.

Several research firms recently weighed in on NEXA. JPMorgan Chase & Co. upped their price target on Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday. Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a research report on Saturday, November 1st. Citigroup assumed coverage on shares of Nexa Resources in a report on Tuesday, September 16th. They set a “neutral” rating and a $5.50 price target for the company. Finally, Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th.

View Our Latest Stock Report on NEXA

Nexa Resources Stock Down 2.4%

Shares of NYSE:NEXA opened at $8.86 on Thursday. The firm has a 50 day simple moving average of $6.93 and a 200 day simple moving average of $5.66. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $9.61. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91. The company has a market cap of $1.17 billion, a PE ratio of -73.83, a price-to-earnings-growth ratio of 0.44 and a beta of 0.64.

Nexa Resources (NYSE:NEXA – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.14). The firm had revenue of $763.52 million for the quarter, compared to analyst estimates of $649.86 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. As a group, research analysts expect that Nexa Resources will post 1.03 earnings per share for the current year.

Institutional Trading of Nexa Resources

Several hedge funds and other institutional investors have recently modified their holdings of NEXA. Assenagon Asset Management S.A. purchased a new position in Nexa Resources in the third quarter valued at about $57,000. First Affirmative Financial Network purchased a new stake in shares of Nexa Resources during the 3rd quarter worth about $63,000. Susquehanna International Group LLP acquired a new stake in shares of Nexa Resources during the 3rd quarter valued at about $134,000. Citadel Advisors LLC grew its stake in shares of Nexa Resources by 142.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after buying an additional 35,411 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Nexa Resources by 124.1% in the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 shares in the last quarter.

About Nexa Resources

(Get Free Report)

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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