Credit Suisse Group lowered shares of Nexa Resources (NYSE:NEXA) from an outperform rating to a neutral rating in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has $11.00 price objective on the stock, down from their previous price objective of $12.50.
Several other research firms also recently commented on NEXA. Zacks Investment Research upgraded Nexa Resources from a strong sell rating to a hold rating in a research note on Friday, August 16th. JPMorgan Chase & Co. dropped their price objective on Nexa Resources from $13.00 to $12.00 and set an overweight rating on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets dropped their price objective on Nexa Resources from $15.50 to $14.75 and set a market perform rating on the stock in a research note on Monday, August 5th. Finally, Royal Bank of Canada assumed coverage on Nexa Resources in a research note on Monday, July 22nd. They issued a sector perform rating and a $12.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $12.54.
Nexa Resources stock opened at $9.60 on Thursday. Nexa Resources has a 12 month low of $7.00 and a 12 month high of $13.69. The company has a current ratio of 2.39, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50. The business’s 50 day simple moving average is $8.62 and its 200 day simple moving average is $10.19. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 5.09 and a beta of 0.41.
Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). Nexa Resources had a net margin of 2.82% and a return on equity of 1.02%. The firm had revenue of $613.30 million during the quarter, compared to analysts’ expectations of $617.65 million. As a group, equities research analysts forecast that Nexa Resources will post 0.16 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Nexa Resources by 31.2% during the 2nd quarter. Renaissance Technologies LLC now owns 518,100 shares of the company’s stock valued at $4,969,000 after acquiring an additional 123,200 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Nexa Resources by 13.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 263,023 shares of the company’s stock valued at $2,523,000 after acquiring an additional 30,312 shares during the period. Sagil Capital LLP raised its holdings in Nexa Resources by 44.0% during the 1st quarter. Sagil Capital LLP now owns 155,162 shares of the company’s stock valued at $1,932,000 after acquiring an additional 47,415 shares during the period. Vanguard Group Inc. raised its holdings in Nexa Resources by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 126,053 shares of the company’s stock valued at $1,209,000 after acquiring an additional 3,160 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Nexa Resources by 33.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 92,391 shares of the company’s stock valued at $910,000 after acquiring an additional 23,109 shares during the period. 7.64% of the stock is currently owned by institutional investors and hedge funds.
Nexa Resources Company Profile
Nexa Resources SA, through its subsidiaries, engages in the zinc mining and smelting business. 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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