FY2024 EPS Estimates for Nexa Resources Lifted by Scotiabank

Nexa Resources S.A. (NYSE:NEXA) – Equities researchers at Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of Nexa Resources in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the company will earn $0.30 per share for the year, up from their prior forecast of ($0.44). Scotiabank currently has a “Sector Underperform” rating and a $7.00 price target on the stock. The consensus estimate for Nexa Resources’ current full-year earnings is ($0.08) per share. Scotiabank also issued estimates for Nexa Resources’ FY2025 earnings at $0.81 EPS.

Separately, Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th. Two investment 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. According to data from MarketBeat.com, Nexa Resources has an average rating of “Hold” and a consensus price target of $7.56.

Nexa Resources Stock Performance

Shares of Nexa Resources stock opened at $6.92 on Friday. Nexa Resources has a one year low of $5.10 and a one year high of $9.61. The company has a market capitalization of $916.48 million, a PE ratio of -4.58 and a beta of 1.48. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. The company has a 50-day simple moving average of $7.87 and a two-hundred day simple moving average of $7.38.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP increased its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 593,983 shares of the company’s stock after purchasing an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned approximately 0.45% of Nexa Resources worth $4,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.