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

Zacks Research lowered shares of Nexa Resources (NYSE:NEXA) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 1st. Citigroup dropped their price target on Nexa Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Morgan Stanley set a $7.70 price target on Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Finally, Scotiabank decreased their price objective on Nexa Resources to $14.00 and set a “sector perform” rating on the stock in a report on Monday, March 23rd. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nexa Resources has an average rating of “Reduce” and a consensus target price of $8.87.

Nexa Resources Price Performance

Shares of NEXA opened at $11.04 on Tuesday. The company’s 50-day moving average is $11.72 and its 200-day moving average is $8.66. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.87 and a quick ratio of 0.58. The firm has a market capitalization of $1.46 billion, a PE ratio of 11.04, a PEG ratio of 0.13 and a beta of 0.53. Nexa Resources has a fifty-two week low of $4.44 and a fifty-two week high of $14.94.

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

Nexa Resources Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be given a dividend of $0.1321 per share. The ex-dividend date is Tuesday, July 28th. Nexa Resources’s dividend payout ratio is presently 13.00%.

Institutional Investors Weigh In On Nexa Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in NEXA. GSA Capital Partners LLP boosted its stake in shares of Nexa Resources by 7.5% in the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after buying an additional 2,504 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Nexa Resources during the 4th quarter worth $36,000. Nano Cap New Millennium Growth Fund L P bought a new position in Nexa Resources during the 4th quarter worth $44,000. Hsbc Holdings PLC raised its holdings in Nexa Resources by 47.0% in the 4th quarter. Hsbc Holdings PLC now owns 16,454 shares of the company’s stock valued at $145,000 after acquiring an additional 5,263 shares in the last quarter. Finally, Engineers Gate Manager LP raised its holdings 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 acquiring an additional 7,206 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.