Nexa Resources S.A. (NYSE:NEXA) Receives $6.29 Consensus Price Target from Analysts

Nexa Resources S.A. (NYSE:NEXA) has been given an average rating of “Reduce” by the eight brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.2857.

A number of research analysts have issued reports on NEXA shares. JPMorgan Chase & Co. upped their target price on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nexa Resources in a research report on Wednesday, October 8th. Morgan Stanley downgraded shares of Nexa Resources from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $7.00 to $5.00 in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Finally, Citigroup began coverage on Nexa Resources in a report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 price target for the company.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Assenagon Asset Management S.A. purchased a new position in Nexa Resources S.A. (NYSE:NEXA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,486 shares of the company’s stock, valued at approximately $57,000.

Nexa Resources Price Performance

Shares of NYSE:NEXA opened at $5.63 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91. The business’s fifty day moving average price is $5.24 and its two-hundred day moving average price is $5.09. The stock has a market cap of $745.64 million, a PE ratio of -46.91 and a beta of 0.84. Nexa Resources has a one year low of $4.44 and a one year high of $9.61.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.14). The company had revenue of $763.50 million during the quarter, compared to analysts’ expectations of $649.86 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. On average, analysts forecast that Nexa Resources will post 1.03 EPS for the current fiscal year.

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.