Nexa Resources S.A. (NYSE:NEXA) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Nexa Resources S.A. (NYSE:NEXA) have been given an average rating of “Reduce” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $7.25.

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Bank of America raised their target price on shares of Nexa Resources from $7.50 to $8.00 and gave the company an “underperform” rating in a report on Wednesday, June 26th. Scotiabank raised their target price on shares of Nexa Resources from $6.00 to $7.00 and gave the company a “sector underperform” rating in a report on Thursday, May 30th. BMO Capital Markets raised their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, Morgan Stanley raised their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a report on Friday, June 21st.

Institutional Trading of Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

Nexa Resources Trading Down 0.8 %

NYSE NEXA opened at $7.62 on Wednesday. The firm has a 50 day simple moving average of $7.61 and a 200-day simple moving average of $7.23. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.98 and a quick ratio of 0.63. Nexa Resources has a one year low of $4.14 and a one year high of $8.09.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). Nexa Resources had a negative net margin of 11.81% and a negative return on equity of 4.82%. The business had revenue of $579.78 million during the quarter, compared to analysts’ expectations of $587.03 million. As a group, equities analysts forecast that Nexa Resources will post 0.5 earnings per share for the current year.

About Nexa Resources

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.