Nexa Resources (NYSE:NEXA) Stock Rating Lowered by Zacks Research

Nexa Resources (NYSE:NEXA) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Morgan Stanley raised their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America boosted their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Nexa Resources in a report on Wednesday, April 22nd. Finally, Scotiabank lifted their price objective on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $13.00.

Nexa Resources Trading Up 4.6%

Shares of NYSE:NEXA opened at $13.46 on Wednesday. The company has a market cap of $1.78 billion, a P/E ratio of 8.52, a PEG ratio of 0.29 and a beta of 0.94. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. Nexa Resources has a 1 year low of $4.61 and a 1 year high of $16.89. The stock’s fifty day moving average price is $13.97 and its 200-day moving average price is $12.45.

Nexa Resources (NYSE:NEXA) last released 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 return on equity of 16.32% and a net margin of 6.44%.The company had revenue of $888.32 million for the quarter, compared to analysts’ expectations of $885.90 million. Sell-side analysts expect that Nexa Resources will post 2.79 earnings per share for the current year.

Institutional Investors Weigh In On Nexa Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new position in Nexa Resources in the 2nd quarter worth $28,000. Royal Bank of Canada increased its position in Nexa Resources by 173.8% in the first 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. Hsbc Holdings PLC raised its stake in shares of Nexa Resources by 17.5% in the first quarter. Hsbc Holdings PLC now owns 19,333 shares of the company’s stock worth $203,000 after buying an additional 2,879 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Nexa Resources during the 4th quarter valued at about $36,000. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in shares of Nexa Resources during the 4th quarter valued at approximately $44,000.

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.