Zacks Investment Research downgraded shares of Nexa Resources (NYSE:NEXA) from a hold rating to a strong sell rating in a report issued on Tuesday.
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. “
Several other equities analysts also recently commented on NEXA. Scotiabank cut their price target on shares of Nexa Resources from $25.50 to $24.00 and set an outperform rating on the stock in a report on Tuesday, February 20th. BMO Capital Markets reiterated an outperform rating and set a $26.00 price target (up from $23.00) on shares of Nexa Resources in a report on Wednesday, February 21st. Credit Suisse Group reiterated a buy rating and set a $23.00 price target on shares of Nexa Resources in a report on Sunday, February 25th. JPMorgan Chase cut their price target on shares of Nexa Resources from $26.00 to $25.00 and set a buy rating on the stock in a report on Friday, March 23rd. Finally, ValuEngine downgraded shares of Nexa Resources from a buy rating to a hold rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Nexa Resources presently has an average rating of Buy and an average target price of $22.59.
Shares of Nexa Resources opened at $16.66 on Tuesday, Marketbeat.com reports. The stock has a market cap of $2.26 billion and a P/E ratio of 11.73. Nexa Resources has a 12 month low of $15.27 and a 12 month high of $21.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.87 and a current ratio of 2.31.
Nexa Resources (NYSE:NEXA) last issued its quarterly earnings results on Monday, April 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.11). The firm had revenue of $676.19 million for the quarter. Nexa Resources had a net margin of 6.37% and a return on equity of 5.78%. equities analysts forecast that Nexa Resources will post 1.86 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new stake in Nexa Resources in the 4th quarter valued at about $2,496,000. Goldman Sachs Group Inc. purchased a new stake in Nexa Resources in the 4th quarter valued at about $16,354,000. Element Capital Management LLC purchased a new stake in Nexa Resources in the 4th quarter valued at about $2,942,000. Virtu Financial LLC purchased a new stake in Nexa Resources in the 4th quarter valued at about $242,000. Finally, CI Investments Inc. purchased a new stake in shares of Nexa Resources in the 4th quarter worth approximately $11,741,000. 13.37% of the stock is owned by institutional investors.
About Nexa Resources
Nexa Resources SA, through its subsidiaries, primarily produces, refines, processes, and sells zinc in Peru and Brazil. It explores, extracts, produces, and trades zinc, copper, and lead concentrates through its mining sites located in the regions of Pasco, Ica, and Moquegua in Peru. The company also has copper mining project located in the Conchucos District, Ancash Region; poly-metallic mining project located in the Ancash Region; and copper mining project located in the Huancavelica Region, as well as zinc mines in Vazante and Paracatu.
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