Brokerages Set Nexa Resources S.A. (NYSE:NEXA) PT at $6.67

Shares of Nexa Resources S.A. (NYSE:NEXA) have been given an average recommendation of “Reduce” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $6.6714.

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Scotiabank increased their price objective on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Morgan Stanley set a $7.70 target price on Nexa Resources and gave the company an “underweight” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. increased their price target on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Finally, Citigroup started coverage on Nexa Resources in a report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new stake in Nexa Resources during the third quarter valued at about $57,000. GSA Capital Partners LLP boosted its holdings in shares of Nexa Resources by 7.5% in 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. Dimensional Fund Advisors LP grew its position in shares of Nexa Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after buying an additional 26,829 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Nexa Resources by 142.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after acquiring an additional 35,411 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Nexa Resources by 124.1% during the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after acquiring an additional 40,535 shares in the last quarter.

Nexa Resources Trading Up 6.2%

NEXA opened at $9.40 on Thursday. The stock has a 50-day moving average of $6.72 and a 200 day moving average of $5.58. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $9.61. The firm has a market cap of $1.25 billion, a P/E ratio of -78.34, a P/E/G ratio of 0.46 and a beta of 0.64.

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

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.