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

Wall Street Zen upgraded shares of Nexa Resources (NYSE:NEXA) from a buy rating to a strong-buy rating in a report issued on Sunday.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Citigroup raised their price target on shares of Nexa Resources from $5.50 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Scotiabank restated a “sector perform” rating on shares of Nexa Resources in a research report on Monday, January 26th. Finally, Morgan Stanley set a $7.70 target price on shares of Nexa Resources and gave the stock an “underweight” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.81.

Nexa Resources Price Performance

Shares of NEXA stock opened at $12.62 on Friday. The firm has a 50 day moving average price of $11.55 and a two-hundred day moving average price of $7.84. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87. Nexa Resources has a 12-month low of $4.44 and a 12-month high of $14.94.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, February 26th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. The company had revenue of $903.00 million for the quarter, compared to the consensus estimate of $823.27 million. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%. Research analysts predict that Nexa Resources will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

Institutional investors have recently modified their holdings of the business. Citadel Advisors LLC lifted its holdings in shares of Nexa Resources by 142.4% in the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after acquiring an additional 35,411 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Nexa Resources during the 4th quarter worth approximately $207,000. Engineers Gate Manager LP lifted its stake in Nexa Resources by 69.7% in the 4th quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock valued at $155,000 after purchasing an additional 7,206 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Nexa Resources in the third quarter valued at approximately $134,000. Finally, Susquehanna Portfolio Strategies LLC bought a new stake in shares of Nexa Resources during the fourth quarter worth $88,000.

About Nexa Resources

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.