Nexa Resources SA (NEXA) Receives $21.83 Average Target Price from Analysts

Shares of Nexa Resources SA (NYSE:NEXA) have been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.13.

A number of analysts have recently commented on the company. BMO Capital Markets assumed coverage on Nexa Resources in a report on Tuesday, January 8th. They issued a “market perform” rating and a $19.00 price target on the stock. National Bank Financial assumed coverage on Nexa Resources in a report on Wednesday, October 31st. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded Nexa Resources from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Thursday, October 11th. Scotiabank lowered Nexa Resources from an “outperform” rating to a “sector perform” rating in a report on Monday. Finally, Credit Suisse Group assumed coverage on Nexa Resources in a report on Thursday, October 18th. They issued a “buy” rating and a $17.00 price target on the stock.

NEXA stock traded down $0.16 during midday trading on Wednesday, hitting $10.08. 21,252 shares of the company’s stock were exchanged, compared to its average volume of 284,673. The company has a current ratio of 2.55, a quick ratio of 2.15 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.49 billion, a PE ratio of 7.11 and a beta of 0.74. Nexa Resources has a one year low of $9.79 and a one year high of $21.61.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Wednesday, October 31st. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.23. The firm had revenue of $595.10 million for the quarter, compared to analyst estimates of $553.28 million. Nexa Resources had a return on equity of 1.61% and a net margin of 1.74%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts forecast that Nexa Resources will post 0.26 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXA. Bank of America Corp DE raised its holdings in Nexa Resources by 3,982.4% during the second quarter. Bank of America Corp DE now owns 10,206 shares of the company’s stock worth $120,000 after acquiring an additional 9,956 shares in the last quarter. Legal & General Group Plc raised its holdings in Nexa Resources by 39.2% during the third quarter. Legal & General Group Plc now owns 10,720 shares of the company’s stock worth $129,000 after acquiring an additional 3,020 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in Nexa Resources during the third quarter worth about $131,000. Jane Street Group LLC bought a new stake in Nexa Resources during the second quarter worth about $170,000. Finally, California Public Employees Retirement System raised its holdings in Nexa Resources by 29.7% during the second quarter. California Public Employees Retirement System now owns 19,561 shares of the company’s stock worth $230,000 after acquiring an additional 4,476 shares in the last quarter. Institutional investors and hedge funds own 10.86% of the company’s stock.

About Nexa Resources

Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business in Latin America. It also produces copper, lead, silver and gold deposits. The company owns and operates five mines, including three located in the Central Andes of Peru; and two located in the state of Minas Gerais in Brazil.

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Analyst Recommendations for Nexa Resources (NYSE:NEXA)

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