Nexa Resources FY2024 EPS Estimate Boosted by Scotiabank

Nexa Resources S.A. (NYSE:NEXA) – Equities researchers at Scotiabank upped their FY2024 EPS estimates for shares of Nexa Resources in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the company will post earnings per share of $0.30 for the year, up from their prior forecast 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 shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $7.50 to $7.80 in a research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.56.

Nexa Resources Trading Up 5.0 %

NEXA stock opened at $6.92 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. Nexa Resources has a 52-week low of $5.10 and a 52-week high of $9.61. The firm has a market cap of $916.48 million, a P/E ratio of -4.58 and a beta of 1.48. The company’s 50-day simple moving average is $7.87 and its 200-day simple moving average is $7.38.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC boosted its holdings in Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 341,792 shares of the company’s stock after acquiring an additional 12,092 shares during the period. Renaissance Technologies LLC owned 0.26% of Nexa Resources worth $2,611,000 at the end of the most recent reporting period.

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.