Wall Street Zen Downgrades Nexa Resources (NYSE:NEXA) to Buy

Nexa Resources (NYSE:NEXA) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities research analysts have also weighed in on NEXA. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Citigroup lifted their target price on Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Scotiabank reaffirmed a “sector perform” rating on shares of Nexa Resources in a research note on Monday, January 26th. Finally, Morgan Stanley set a $7.70 target price on Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.74.

Nexa Resources Stock Performance

Shares of NYSE NEXA opened at $11.30 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. The stock has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $7.46. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $14.94.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NEXA. Police & Firemen s Retirement System of New Jersey purchased a new position in Nexa Resources during the 4th quarter valued at about $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources during the fourth quarter valued at about $44,000. Assenagon Asset Management S.A. purchased a new position in shares of Nexa Resources during the 3rd quarter valued at about $57,000. First Affirmative Financial Network purchased a new position in shares of Nexa Resources during the third quarter worth approximately $63,000. Finally, New York State Common Retirement Fund bought a new stake in Nexa Resources in the fourth quarter worth $83,000.

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.