Nexa Resources (NYSE:NEXA) Trading Down 6.9% Following Analyst Downgrade

Nexa Resources S.A. (NYSE:NEXA)’s share price fell 6.9% during mid-day trading on Tuesday after Bank of America lowered their price target on the stock from $8.00 to $6.50. Bank of America currently has an underperform rating on the stock. Nexa Resources traded as low as $5.21 and last traded at $5.20. 28,025 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 49,051 shares. The stock had previously closed at $5.58.

NEXA has been the subject of several other reports. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Scotiabank decreased their price objective on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nexa Resources has an average rating of “Hold” and a consensus target price of $6.86.

Institutional Trading of Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC purchased a new position in shares of Nexa Resources S.A. (NYSE:NEXA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,341 shares of the company’s stock, valued at approximately $126,000.

Nexa Resources Price Performance

The firm has a market cap of $688.02 million, a price-to-earnings ratio of -3.37 and a beta of 1.50. The company’s fifty day moving average is $6.09 and its 200 day moving average is $6.98. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The business had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. On average, equities research analysts predict that Nexa Resources S.A. will post 1.03 EPS for the current year.

Nexa Resources Company Profile

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.