Nexa Resources (NYSE:NEXA) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Friday, Marketbeat reports. They presently have a $11.50 price target on the stock. Citigroup‘s price target indicates a potential upside of 14.89% from the company’s previous close.
Other analysts have also recently issued reports about the company. ValuEngine raised Nexa Resources from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Zacks Investment Research cut Nexa Resources from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. National Bank Financial assumed coverage on Nexa Resources in a research report on Wednesday, October 31st. They set an “outperform” rating for the company. Credit Suisse Group assumed coverage on Nexa Resources in a research report on Thursday, October 18th. They set a “buy” rating and a $17.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on Nexa Resources in a research report on Tuesday, January 8th. They set a “market perform” rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Nexa Resources presently has a consensus rating of “Hold” and an average price target of $18.33.
Shares of NYSE NEXA opened at $10.01 on Friday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 7.05 and a beta of 0.74. The company has a quick ratio of 2.15, a current ratio of 2.55 and a debt-to-equity ratio of 0.48. Nexa Resources has a 52-week low of $9.79 and a 52-week high of $21.61.
Nexa Resources (NYSE:NEXA) last announced its earnings results on Wednesday, October 31st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.23. The firm had revenue of $595.10 million during the quarter, compared to analysts’ expectations of $553.28 million. Nexa Resources had a return on equity of 1.61% and a net margin of 1.74%. Nexa Resources’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, research analysts forecast that Nexa Resources will post 0.26 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in Nexa Resources by 3,982.4% during the 2nd quarter. Bank of America Corp DE now owns 10,206 shares of the company’s stock worth $120,000 after acquiring an additional 9,956 shares during the period. Legal & General Group Plc lifted its position in Nexa Resources by 39.2% during the 3rd quarter. Legal & General Group Plc now owns 10,720 shares of the company’s stock worth $129,000 after acquiring an additional 3,020 shares during the period. Vident Investment Advisory LLC acquired a new stake in Nexa Resources during the 3rd quarter worth approximately $131,000. Jane Street Group LLC acquired a new stake in Nexa Resources during the 2nd quarter worth approximately $170,000. Finally, California Public Employees Retirement System lifted its position in Nexa Resources by 29.7% during the 2nd quarter. California Public Employees Retirement System now owns 19,561 shares of the company’s stock worth $230,000 after acquiring an additional 4,476 shares during the period. 10.86% of the stock is owned by institutional investors.
Nexa Resources Company Profile
Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business in Latin America. It also produces copper, lead, silver and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.
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