Nexa Resources (NYSE:NEXA) Shares Down 6.9% Following Analyst Downgrade

Nexa Resources S.A. (NYSE:NEXA)’s share price fell 6.9% on Tuesday after Bank of America lowered their price target on the stock from $8.00 to $6.50. Bank of America currently has an underperform rating on the stock. Nexa Resources traded as low as $5.21 and last traded at $5.20. 28,025 shares traded hands during trading, a decline of 43% from the average session volume of 49,051 shares. The stock had previously closed at $5.58.

NEXA has been the topic of a number of other research reports. Scotiabank lowered their price target on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research report on Friday, February 7th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Nexa Resources currently has a consensus rating of “Hold” and a consensus price target of $6.86.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Virtu Financial LLC acquired a new stake in Nexa Resources S.A. (NYSE:NEXA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 14,341 shares of the company’s stock, valued at approximately $126,000.

Nexa Resources Price Performance

The company has a fifty day simple moving average of $6.09 and a two-hundred day simple moving average of $6.98. The stock has a market capitalization of $688.02 million, a price-to-earnings ratio of -3.37 and a beta of 1.50. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The firm had revenue of $740.92 million during the quarter, compared to the consensus estimate of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. As a group, equities research analysts expect that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.

About Nexa Resources

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.