Credit Suisse Group downgraded shares of Nexa Resources (NYSE:NEXA) from an outperform rating to a neutral rating in a research report report published on Thursday, BenzingaRatingsTable reports. They currently have $11.00 target price on the stock, down from their prior target price of $12.50.
A number of other research firms also recently commented on NEXA. BMO Capital Markets dropped their target price on shares of Nexa Resources from $15.50 to $14.75 and set a market perform rating on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of Nexa Resources from $13.00 to $12.00 and set an overweight rating on the stock in a report on Tuesday, September 3rd. Zacks Investment Research upgraded shares of Nexa Resources from a strong sell rating to a hold rating in a report on Friday, August 16th. Finally, Royal Bank of Canada started coverage on shares of Nexa Resources in a report on Monday, July 22nd. They issued a sector perform rating and a $12.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $12.54.
Nexa Resources stock opened at $9.60 on Thursday. The firm has a 50-day moving average price of $8.62 and a two-hundred day moving average price of $10.19. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 5.07 and a beta of 0.41. Nexa Resources has a 52-week low of $7.00 and a 52-week high of $13.69. The company has a quick ratio of 1.91, a current ratio of 2.39 and a debt-to-equity ratio of 0.50.
Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $613.30 million during the quarter, compared to analyst estimates of $617.65 million. Nexa Resources had a return on equity of 1.02% and a net margin of 2.82%. Research analysts expect that Nexa Resources will post 0.11 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. increased its stake in Nexa Resources by 69.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 80,668 shares of the company’s stock valued at $774,000 after buying an additional 33,039 shares during the period. Morgan Stanley grew its position in Nexa Resources by 99.0% in the second quarter. Morgan Stanley now owns 81,889 shares of the company’s stock worth $785,000 after acquiring an additional 40,744 shares in the last quarter. Vanguard Group Inc. grew its position in Nexa Resources by 2.6% in the second quarter. Vanguard Group Inc. now owns 126,053 shares of the company’s stock worth $1,209,000 after acquiring an additional 3,160 shares in the last quarter. Renaissance Technologies LLC grew its position in Nexa Resources by 31.2% in the second quarter. Renaissance Technologies LLC now owns 518,100 shares of the company’s stock worth $4,969,000 after acquiring an additional 123,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Nexa Resources by 13.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 263,023 shares of the company’s stock worth $2,523,000 after acquiring an additional 30,312 shares in the last quarter. Hedge funds and other institutional investors own 7.64% of the company’s stock.
Nexa Resources Company Profile
Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. 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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