Nexa Resources (NYSE:NEXA) Upgraded by Zacks Research to “Strong-Buy” Rating

Nexa Resources (NYSE:NEXA) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on NEXA. Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Citigroup increased their price objective on Nexa Resources from $11.00 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Scotiabank lowered their price objective on Nexa Resources to $14.00 and set a “sector perform” rating for the company in a research report on Monday, March 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nexa Resources presently has a consensus rating of “Hold” and an average price target of $9.74.

Nexa Resources Trading Up 7.1%

Shares of Nexa Resources stock opened at $14.80 on Tuesday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.19 and a beta of 0.90. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a 50 day moving average of $12.39 and a 200 day moving average of $10.36.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%. As a group, research analysts predict that Nexa Resources will post 2.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Sagil Capital LLP acquired a new position in Nexa Resources during the fourth quarter worth $11,651,000. Dimensional Fund Advisors LP lifted its stake in Nexa Resources by 47.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock worth $13,684,000 after purchasing an additional 414,474 shares in the last quarter. Marshall Wace LLP acquired a new position in Nexa Resources during the fourth quarter worth $8,653,000. Renaissance Technologies LLC lifted its stake in Nexa Resources by 120.8% during the fourth quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock worth $7,547,000 after purchasing an additional 466,500 shares in the last quarter. Finally, Pictet Asset Management Holding SA acquired a new position in Nexa Resources during the first quarter worth $7,572,000.

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.