Nexa Resources (NYSE:NEXA) Upgraded by Zacks Research to “Strong-Buy” Rating

Nexa Resources (NYSE:NEXA) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on NEXA. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Citigroup upped their price objective on Nexa Resources from $11.00 to $12.50 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Scotiabank cut their price objective on Nexa Resources to $14.00 and set a “sector perform” rating on the stock in a research report on Monday, March 23rd. Wall Street Zen raised Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Finally, JPMorgan Chase & Co. raised their price target on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.74.

Nexa Resources Stock Up 7.1%

Nexa Resources stock opened at $14.80 on Tuesday. Nexa Resources has a twelve month low of $4.44 and a twelve month high of $16.89. The stock’s fifty day simple moving average is $12.39 and its 200-day simple moving average is $10.36. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $1.96 billion, a P/E ratio of 9.37, a P/E/G ratio of 0.19 and a beta of 0.90.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The business had revenue of $888.32 million for the quarter, compared to analyst estimates of $885.90 million. As a group, equities analysts expect that Nexa Resources will post 2.61 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in Nexa Resources in the fourth quarter valued at $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in Nexa Resources in the fourth quarter valued at $44,000. First Affirmative Financial Network acquired a new stake in Nexa Resources in the third quarter valued at $63,000. New York State Common Retirement Fund acquired a new stake in Nexa Resources in the fourth quarter valued at $83,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new stake in Nexa Resources in the fourth quarter valued at $88,000.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.