Nexa Resources (NEXA) Cut to Hold at Zacks Investment Research

Nexa Resources (NYSE:NEXA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Nexa Resources S.A. is an integrated zinc producer. It engaged in developing and operating mining and smelting assets primarily in Latin America. The Company operates and owns principally in the Central Andes of Peru and in the state of Minas Gerais in Brazil. Nexa Resources S.A. is headquartered in Luxembourg City. “

A number of other analysts have also recently weighed in on the stock. Credit Suisse Group started coverage on shares of Nexa Resources in a research report on Tuesday, November 28th. They set an “outperform” rating and a $23.00 price target for the company. Morgan Stanley started coverage on shares of Nexa Resources in a research report on Tuesday, November 21st. They set an “overweight” rating and a $18.60 price target for the company. BMO Capital Markets started coverage on shares of Nexa Resources in a research report on Tuesday, November 21st. They set an “outperform” rating and a $24.00 price target for the company. Citigroup started coverage on shares of Nexa Resources in a research report on Tuesday, November 21st. They set a “buy” rating and a $19.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Nexa Resources in a research report on Tuesday, November 21st. They set an “overweight” rating and a $23.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $21.77.

Shares of Nexa Resources (NYSE:NEXA) opened at $20.70 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Nexa Resources has a 12-month low of $15.27 and a 12-month high of $21.61. The firm has a market cap of $2,329.75 and a price-to-earnings ratio of 35.60.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Friday, November 10th. The company reported $0.72 earnings per share for the quarter. Nexa Resources had a net margin of 2.88% and a return on equity of 2.16%. analysts anticipate that Nexa Resources will post 1.45 earnings per share for the current year.

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About Nexa Resources

Nexa Resources SA, formerly VM Holding SA, is a Luxembourg-based company engaged in the mineral resources industry. The Company is a metals and mining entity mainly engaged in zinc content production, and whose product portfolio also includes copper, lead, silver and gold. Its mining and smelting presence is located in Brazil, conducted by Votorantim Metais Zinco SA, and in Peru, conducted by Compania Minera Milpo SAA, and Votorantim Metais-Cajamarquilla SA.

Analyst Recommendations for Nexa Resources (NYSE:NEXA)

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