Nexa Resources (NYSE:NEXA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nexa Resources (NYSE:NEXA) to a buy rating in a report released on Saturday morning.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. boosted their price target on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Citigroup began coverage on Nexa Resources in a report on Tuesday, September 16th. They set a “neutral” rating and a $5.50 price target for the company. Morgan Stanley lowered Nexa Resources from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research report on Tuesday, July 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Nexa Resources in a research report on Wednesday, October 8th. Finally, Scotiabank boosted their price objective on Nexa Resources from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Nexa Resources currently has an average rating of “Reduce” and an average price target of $6.29.

Nexa Resources Price Performance

Shares of NYSE NEXA opened at $5.68 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $9.61. The stock has a market capitalization of $752.26 million, a PE ratio of -47.33 and a beta of 0.84. The business has a fifty day moving average price of $5.17 and a two-hundred day moving average price of $5.12.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The business had revenue of $763.50 million for the quarter, compared to analyst estimates of $649.86 million. As a group, equities analysts predict that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Assenagon Asset Management S.A. bought a new position in Nexa Resources S.A. (NYSE:NEXA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,486 shares of the company’s stock, valued at approximately $57,000.

Nexa Resources Company Profile

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.