Nexa Resources S.A. (NYSE:NEXA) Receives $9.74 Consensus PT from Brokerages

Nexa Resources S.A. (NYSE:NEXA) has been given a consensus rating of “Hold” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.74.

A number of research firms recently commented on NEXA. JPMorgan Chase & Co. upped their price objective on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Citigroup upped their price objective on Nexa Resources from $11.00 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Scotiabank reduced their price objective on Nexa Resources to $14.00 and set a “sector perform” rating for the company in a research report on Monday, March 23rd. Morgan Stanley upgraded Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd.

Nexa Resources Trading Up 3.1%

Nexa Resources stock opened at $14.97 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. Nexa Resources has a one year low of $4.44 and a one year high of $16.89. The stock has a market capitalization of $1.98 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.35 and a beta of 0.90. The business’s fifty day moving average is $13.07 and its 200 day moving average is $11.06.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $888.32 million for the quarter, compared to analysts’ expectations of $885.90 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%. On average, sell-side analysts predict that Nexa Resources will post 2.67 EPS for the current year.

Nexa Resources Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, July 28th will be given a $0.1321 dividend. The ex-dividend date is Tuesday, July 28th. Nexa Resources’s dividend payout ratio is presently 6.33%.

Institutional Trading of Nexa Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of NEXA. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexa Resources in the fourth quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources in the fourth quarter worth about $44,000. Royal Bank of Canada increased its position in Nexa Resources by 173.8% in the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after buying an additional 2,784 shares in the last quarter. First Affirmative Financial Network purchased a new stake in Nexa Resources in the third quarter worth about $63,000. Finally, New York State Common Retirement Fund purchased a new stake in Nexa Resources in the fourth quarter worth about $83,000.

About Nexa Resources

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.