Nexa Resources (NEXA) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of Nexa Resources (NYSE:NEXA) from a hold rating to a strong-buy rating in a research note released on Thursday, February 8th. The firm currently has $23.00 target price 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. “

A number of other equities analysts have also recently issued reports on NEXA. Credit Suisse Group started coverage on Nexa Resources in a report on Tuesday, November 28th. They issued an outperform rating and a $23.00 target price on the stock. Morgan Stanley started coverage on Nexa Resources in a report on Tuesday, November 21st. They issued an overweight rating and a $18.60 target price on the stock. BMO Capital Markets started coverage on Nexa Resources in a report on Tuesday, November 21st. They issued an outperform rating and a $24.00 target price on the stock. Citigroup started coverage on Nexa Resources in a report on Tuesday, November 21st. They issued a buy rating and a $19.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Nexa Resources in a report on Tuesday, November 21st. They issued an overweight rating and a $23.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Nexa Resources currently has a consensus rating of Buy and a consensus price target of $21.77.

Nexa Resources (NYSE:NEXA) traded down $0.15 during trading on Thursday, hitting $18.83. The company’s stock had a trading volume of 156,018 shares, compared to its average volume of 216,436. The company has a market cap of $2,092.83 and a PE ratio of 32.59. Nexa Resources has a 52-week low of $15.27 and a 52-week high of $21.61. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.73.

A number of large investors have recently modified their holdings of NEXA. CI Investments Inc. bought a new position in Nexa Resources during the 4th quarter valued at $11,741,000. Wells Fargo & Company MN bought a new position in Nexa Resources during the 4th quarter valued at $1,166,000. BlackRock Inc. bought a new position in Nexa Resources during the 4th quarter valued at $2,482,000. Tower Research Capital LLC TRC bought a new position in Nexa Resources during the 4th quarter valued at $123,000. Finally, Virtu Financial LLC purchased a new stake in shares of Nexa Resources during the 4th quarter valued at $242,000. Institutional investors and hedge funds own 0.70% of the company’s stock.

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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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