Nexa Resources (NEXA) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Nexa Resources (NYSE:NEXA) from a hold rating to a strong-buy rating in a research report report published on Thursday morning. They currently have $23.00 price target on the stock.

According to Zacks, “Nexa Resources S.A. is an integrated zinc producer. It engaged in developing and operating mining and smelting assets primarily in Latin America. The Company operates and owns principally in the Central Andes of Peru and in the state of Minas Gerais in Brazil. Nexa Resources S.A. is headquartered in Luxembourg City. “

Several other research analysts have also commented on the company. Credit Suisse Group started coverage on Nexa Resources in a report on Tuesday, November 28th. They set an outperform rating and a $23.00 price objective for the company. Morgan Stanley started coverage on Nexa Resources in a research note on Tuesday, November 21st. They issued an overweight rating and a $18.60 target price for the company. BMO Capital Markets started coverage on Nexa Resources in a research note on Tuesday, November 21st. They issued an outperform rating and a $24.00 target price for the company. Citigroup started coverage on Nexa Resources in a research note on Tuesday, November 21st. They issued a buy rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on Nexa Resources in a research note on Tuesday, November 21st. They issued an overweight rating and a $23.00 target price for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $21.77.

Shares of Nexa Resources (NYSE NEXA) traded down $0.48 during trading on Thursday, reaching $18.10. The company had a trading volume of 36,263 shares, compared to its average volume of 213,519. Nexa Resources has a fifty-two week low of $15.27 and a fifty-two week high of $21.61. The company has a market cap of $2,146.98 and a PE ratio of 32.81. The company has a quick ratio of 1.73, a current ratio of 2.10 and a debt-to-equity ratio of 0.51.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Friday, November 10th. The company reported $0.72 earnings per share (EPS) for the quarter. Nexa Resources had a return on equity of 2.16% and a net margin of 2.88%. research analysts predict that Nexa Resources will post 1.34 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Nexa Resources stock. CI Investments Inc. acquired a new stake in Nexa Resources SA (NYSE:NEXA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 598,700 shares of the company’s stock, valued at approximately $11,741,000. CI Investments Inc. owned about 0.53% of Nexa Resources as of its most recent filing with the Securities & Exchange Commission. 0.16% of the stock is currently owned by institutional investors and hedge funds.

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Nexa Resources Company Profile

Nexa Resources SA, formerly VM Holding SA, is a Luxembourg-based company engaged in the mineral resources industry. The Company is a metals and mining entity mainly engaged in zinc content production, and whose product portfolio also includes copper, lead, silver and gold. Its mining and smelting presence is located in Brazil, conducted by Votorantim Metais Zinco SA, and in Peru, conducted by Compania Minera Milpo SAA, and Votorantim Metais-Cajamarquilla SA.

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