Nexa Resources (NYSE:NEXA) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Nexa Resources (NYSE:NEXA) from a buy rating to a strong-buy rating in a research note published on Saturday.

Several other research firms have also recently issued reports on NEXA. JPMorgan Chase & Co. upped their target price on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the company an “underweight” rating in a research report on Monday, December 15th. Scotiabank reaffirmed a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Citigroup increased their price target on Nexa Resources from $5.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $7.74.

Nexa Resources Stock Performance

NYSE:NEXA opened at $12.37 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average price is $10.07 and its 200-day moving average price is $6.96. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $14.94.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Nexa Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after acquiring an additional 26,829 shares during the period. Millennium Management LLC boosted its position in shares of Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares during the period. Citadel Advisors LLC increased its stake in shares of Nexa Resources by 142.4% in the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after purchasing an additional 35,411 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Nexa Resources by 283.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock valued at $390,000 after buying an additional 32,581 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Nexa Resources by 7.5% during the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after buying an additional 2,504 shares in the last quarter.

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.