Nexa Resources S.A. (NYSE:NEXA) Receives Average Recommendation of “Reduce” from Analysts

Shares of Nexa Resources S.A. (NYSE:NEXA) have been given an average recommendation of “Reduce” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $7.25.

Several equities research analysts have recently commented on NEXA shares. Morgan Stanley boosted their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the company an “underweight” rating in a report on Friday, June 21st. BMO Capital Markets boosted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Bank of America boosted their price objective on shares of Nexa Resources from $7.50 to $8.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Finally, Scotiabank boosted their price objective on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector underperform” rating in a research note on Thursday, May 30th.

Nexa Resources Trading Down 0.8 %

NYSE:NEXA opened at $7.62 on Wednesday. Nexa Resources has a one year low of $4.14 and a one year high of $8.09. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.63 and a current ratio of 0.98. The firm has a 50-day simple moving average of $7.61 and a 200-day simple moving average of $7.23.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). Nexa Resources had a negative net margin of 11.81% and a negative return on equity of 4.82%. The business had revenue of $579.78 million during the quarter, compared to the consensus estimate of $587.03 million. On average, equities research analysts forecast that Nexa Resources will post 0.5 earnings per share for the current year.

Institutional Trading of Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,117,846 shares of the company’s stock, valued at approximately $8,004,000.

About Nexa Resources

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.