Nexa Resources (NYSE:NEXA) Stock Rating Raised to Strong-Buy at Zacks Research

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

Several other research analysts also recently weighed in on NEXA. Wall Street Zen downgraded shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 28th. Bank of America upped their target price on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Morgan Stanley raised Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 target price for the company in a research report on Tuesday, October 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.94.

Nexa Resources Trading Down 2.8%

Shares of Nexa Resources stock opened at $12.30 on Monday. Nexa Resources has a fifty-two week low of $5.05 and a fifty-two week high of $16.89. The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 5.88, a price-to-earnings-growth ratio of 0.14 and a beta of 0.94. The business has a fifty day simple moving average of $13.29 and a 200-day simple moving average of $13.54.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07). The business had revenue of $907.93 million for the quarter, compared to the consensus estimate of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. On average, equities analysts forecast that Nexa Resources will post 2.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXA. Dimensional Fund Advisors LP grew its position in Nexa Resources by 47.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,292,701 shares of the company’s stock worth $13,684,000 after acquiring an additional 414,474 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Nexa Resources by 3.2% during the first quarter. Renaissance Technologies LLC now owns 879,872 shares of the company’s stock worth $9,318,000 after buying an additional 27,072 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Nexa Resources by 159.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 697,972 shares of the company’s stock valued at $8,508,000 after buying an additional 429,208 shares during the period. Bank of America Corp DE lifted its holdings in Nexa Resources by 133.6% during the first quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock worth $7,778,000 after acquiring an additional 420,005 shares in the last quarter. Finally, Pictet Asset Management Holding SA bought a new position in Nexa Resources in the first quarter valued at approximately $7,572,000.

About Nexa Resources

Nexa Resources SA (NYSE:NEXA) is a global mining and metals company focused primarily on the production of zinc, lead, copper and silver. The company also produces related byproducts and refined materials, including sulfuric acid and various metal alloys, which serve customers in industrial, infrastructure, construction and manufacturing markets.

Nexa operates an integrated platform that includes underground and open-pit mines, mineral-processing facilities and zinc smelters. Its principal mining and metallurgical operations are located in Brazil and Peru, with the Cajamarquilla zinc refinery in Peru and additional mining and smelting assets in Brazil.