Analysts Set Nexa Resources SA (NYSE:NEXA) PT at $10.89

Shares of Nexa Resources SA (NYSE:NEXA) have been given a consensus rating of “Hold” by the ten brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $10.89.

Several research analysts have recently issued reports on the stock. CIBC assumed coverage on shares of Nexa Resources in a research note on Monday, November 11th. They issued a “neutral” rating on the stock. National Bank Financial dropped their target price on shares of Nexa Resources from $14.50 to $14.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 19th. Citigroup downgraded shares of Nexa Resources from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $9.50 to $8.00 in a research note on Monday, December 16th. Morgan Stanley downgraded shares of Nexa Resources from an “overweight” rating to an “equal” rating and dropped their target price for the stock from $11.00 to $10.00 in a research note on Friday, November 8th. Finally, BMO Capital Markets dropped their target price on shares of Nexa Resources from $10.00 to $9.25 and set a “market perform” rating on the stock in a research note on Tuesday, December 24th. They noted that the move was a valuation call.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEXA. Renaissance Technologies LLC raised its holdings in shares of Nexa Resources by 31.2% during the second quarter. Renaissance Technologies LLC now owns 518,100 shares of the company’s stock valued at $4,969,000 after purchasing an additional 123,200 shares during the last quarter. Morgan Stanley increased its holdings in Nexa Resources by 99.0% during the second quarter. Morgan Stanley now owns 81,889 shares of the company’s stock valued at $785,000 after buying an additional 40,744 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Nexa Resources by 69.4% during the second 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 last quarter. Charles Schwab Investment Management Inc. increased its holdings in Nexa Resources by 13.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 263,023 shares of the company’s stock valued at $2,523,000 after buying an additional 30,312 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Nexa Resources by 33.4% during the second quarter. JPMorgan Chase & Co. now owns 92,391 shares of the company’s stock valued at $910,000 after buying an additional 23,109 shares during the last quarter. 8.05% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NEXA traded down $0.54 during midday trading on Friday, hitting $8.40. The stock had a trading volume of 63,200 shares, compared to its average volume of 59,250. The business’s 50 day moving average is $8.58 and its 200-day moving average is $8.93. The company has a market cap of $1.18 billion, a P/E ratio of -12.17, a PEG ratio of 23.48 and a beta of 0.31. Nexa Resources has a 52 week low of $7.00 and a 52 week high of $12.80. The company has a quick ratio of 1.79, a current ratio of 2.22 and a debt-to-equity ratio of 0.54.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Thursday, October 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $563.42 million for the quarter, compared to the consensus estimate of $552.86 million. Nexa Resources had a negative net margin of 3.90% and a positive return on equity of 0.49%. As a group, analysts expect that Nexa Resources will post 0.01 EPS for the current fiscal year.

About Nexa Resources

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.

See Also: What are popular green investing opportunities?

Analyst Recommendations for Nexa Resources (NYSE:NEXA)

Receive News & Ratings for Nexa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexa Resources and related companies with MarketBeat.com's FREE daily email newsletter.