Nexa Resources (NYSE:NEXA) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Nexa Resources (NYSE:NEXA) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Scotiabank upped their target price on Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a research note on Tuesday. Bank of America raised their price target on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday. Citigroup boosted their price objective on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $13.00.

Nexa Resources Price Performance

NEXA stock opened at $13.46 on Wednesday. The stock has a market cap of $1.78 billion, a PE ratio of 8.52, a P/E/G ratio of 0.29 and a beta of 0.94. Nexa Resources has a 12 month low of $4.61 and a 12 month high of $16.89. The company has a 50-day moving average price of $13.97 and a 200 day moving average price of $12.45. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $888.32 million for the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. Equities research analysts anticipate that Nexa Resources will post 2.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in Nexa Resources during the 2nd quarter worth $28,000. World Equity Group Inc. purchased a new stake in shares of Nexa Resources in the 2nd quarter worth $161,000. GK Wealth Management LLC purchased a new stake in shares of Nexa Resources in the 2nd quarter worth $327,000. Bank of America Corp DE grew its position in shares of Nexa Resources by 133.6% during the 1st quarter. Bank of America Corp DE now owns 734,476 shares of the company’s stock worth $7,778,000 after buying an additional 420,005 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Nexa Resources by 173.8% during the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after buying an additional 2,784 shares in the last quarter.

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.