Nexa Resources (NYSE:NEXA) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal” rating in a note issued to investors on Friday, Marketbeat reports. They presently have a $10.00 target price on the stock, down from their prior target price of $11.00. Morgan Stanley’s price objective would indicate a potential upside of 6.27% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. National Bank Financial lifted their target price on Nexa Resources from $14.50 to $17.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on Nexa Resources from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Royal Bank of Canada began coverage on Nexa Resources in a report on Monday, July 22nd. They issued a “sector perform” rating and a $12.00 target price for the company. Credit Suisse Group downgraded Nexa Resources from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $12.50 to $11.00 in a report on Thursday, September 12th. Finally, BMO Capital Markets lowered their target price on Nexa Resources from $13.25 to $11.25 and set a “market perform” rating for the company in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Nexa Resources has a consensus rating of “Hold” and an average target price of $12.35.
NEXA stock traded down $0.10 during mid-day trading on Friday, reaching $9.41. The company’s stock had a trading volume of 178,536 shares, compared to its average volume of 139,103. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 59.55 and a beta of 0.46. The business’s 50 day moving average price is $9.69 and its 200 day moving average price is $9.56. The company has a current ratio of 2.22, a quick ratio of 1.79 and a debt-to-equity ratio of 0.54. Nexa Resources has a 12 month low of $7.00 and a 12 month high of $13.40.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Group LLC increased its holdings in shares of Nexa Resources by 3.1% during the third quarter. Renaissance Group LLC now owns 64,589 shares of the company’s stock valued at $608,000 after acquiring an additional 1,956 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Nexa Resources by 2.6% during the second 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 in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Nexa Resources during the first quarter valued at approximately $72,000. California Public Employees Retirement System increased its holdings in shares of Nexa Resources by 50.9% during the third quarter. California Public Employees Retirement System now owns 18,078 shares of the company’s stock valued at $170,000 after acquiring an additional 6,100 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Nexa Resources by 33.4% during the second quarter. JPMorgan Chase & Co. now owns 92,391 shares of the company’s stock worth $910,000 after buying an additional 23,109 shares in the last quarter. Hedge funds and other institutional investors own 7.60% of the company’s stock.
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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