Sagil Capital LLP purchased a new stake in Nexa Resources S.A. (NYSE:NEXA – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,316,533 shares of the company’s stock, valued at approximately $11,651,000. Nexa Resources makes up 2.7% of Sagil Capital LLP’s holdings, making the stock its 6th largest position.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NEXA. Dimensional Fund Advisors LP raised its holdings in Nexa Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after acquiring an additional 26,829 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Nexa Resources during the 4th quarter valued at $1,984,000. LPL Financial LLC bought a new stake in shares of Nexa Resources during the 4th quarter valued at $1,651,000. Millennium Management LLC lifted its position in shares of Nexa Resources by 124.1% during the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after acquiring an additional 40,535 shares during the period. Finally, Citadel Advisors LLC lifted its position in shares of Nexa Resources by 142.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after acquiring an additional 35,411 shares during the period.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on NEXA shares. JPMorgan Chase & Co. upped their target price on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Scotiabank cut their target price on Nexa Resources to $14.00 and set a “sector perform” rating for the company in a research report on Monday, March 23rd. Zacks Research upgraded Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen downgraded shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.30.
Nexa Resources Stock Up 6.1%
Shares of NEXA opened at $12.85 on Friday. Nexa Resources S.A. has a one year low of $4.44 and a one year high of $16.89. The company has a market cap of $1.70 billion, a P/E ratio of 8.13, a P/E/G ratio of 0.29 and a beta of 0.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $13.92 and a two-hundred day simple moving average of $11.62.
Nexa Resources (NYSE:NEXA – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The business had revenue of $888.32 million during the quarter, compared to the consensus estimate of $885.90 million. Research analysts forecast that Nexa Resources S.A. will post 2.67 EPS for the current fiscal year.
Nexa Resources Company Profile
Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.
The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.
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