FY2024 EPS Estimates for Nexa Resources Raised by Scotiabank

Nexa Resources S.A. (NYSE:NEXA) – Stock analysts at Scotiabank lifted their FY2024 earnings estimates for Nexa Resources in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the company will earn $0.30 per share for the year, up from their prior estimate of ($0.44). Scotiabank currently has a “Sector Underperform” rating and a $7.00 target price on the stock. The consensus estimate for Nexa Resources’ current full-year earnings is ($0.08) per share. Scotiabank also issued estimates for Nexa Resources’ FY2025 earnings at $0.81 EPS.

Separately, Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective 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 issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.56.

Nexa Resources Stock Down 6.6 %

NEXA stock opened at $6.46 on Friday. The business’s 50-day simple moving average is $7.84 and its 200 day simple moving average is $7.37. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The company has a market cap of $855.56 million, a PE ratio of -4.28 and a beta of 1.48. Nexa Resources has a twelve month low of $5.10 and a twelve month high of $9.61.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC raised its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 341,792 shares of the company’s stock after acquiring an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 as of its most recent filing with the SEC.

Nexa Resources Company Profile

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.