Nexa Resources (NYSE:NEXA) Downgraded to Equal at Morgan Stanley

Morgan Stanley lowered shares of Nexa Resources (NYSE:NEXA) from an overweight rating to an equal rating in a report released on Friday, Briefing.com Automated Import reports. The firm currently has $10.00 price objective on the stock, down from their previous price objective of $11.00.

Other equities analysts also recently issued research reports about the company. National Bank Financial upped their price objective on Nexa Resources from $14.50 to $17.00 and gave the company an outperform rating in a research note on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on Nexa Resources from $13.00 to $12.00 and set an overweight rating on the stock in a research report on Tuesday, September 3rd. Credit Suisse Group downgraded Nexa Resources from an outperform rating to a neutral rating and dropped their target price for the stock from $12.50 to $11.00 in a research report on Thursday, September 12th. Royal Bank of Canada assumed coverage on Nexa Resources in a research report on Monday, July 22nd. They set a sector perform rating and a $12.00 target price on the stock. Finally, Zacks Investment Research upgraded Nexa Resources from a strong sell rating to a hold rating in a research report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $12.35.

Nexa Resources stock traded down $0.10 during trading on Friday, hitting $9.41. The stock had a trading volume of 178,536 shares, compared to its average volume of 139,103. Nexa Resources has a 1 year low of $7.00 and a 1 year high of $13.40. The company has a quick ratio of 1.79, a current ratio of 2.22 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $9.69 and its two-hundred day moving average is $9.56. The stock 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.

Large investors have recently bought and sold shares of the business. Renaissance Group LLC increased its holdings in shares of Nexa Resources by 3.1% in the third quarter. Renaissance Group LLC now owns 64,589 shares of the company’s stock worth $608,000 after purchasing an additional 1,956 shares during the period. California Public Employees Retirement System increased its holdings in shares of Nexa Resources by 50.9% in the third quarter. California Public Employees Retirement System now owns 18,078 shares of the company’s stock worth $170,000 after purchasing an additional 6,100 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Nexa Resources by 69.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 80,668 shares of the company’s stock worth $774,000 after purchasing an additional 33,039 shares during the period. Morgan Stanley increased its holdings in shares of Nexa Resources by 99.0% in the second quarter. Morgan Stanley now owns 81,889 shares of the company’s stock worth $785,000 after purchasing an additional 40,744 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Nexa Resources by 2.6% in the second quarter. Vanguard Group Inc. now owns 126,053 shares of the company’s stock worth $1,209,000 after purchasing an additional 3,160 shares during the period. Hedge funds and other institutional investors own 7.60% of the company’s stock.

About Nexa Resources

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.

Featured Story: How to find the components of the quick ratio

Analyst Recommendations for Nexa Resources (NYSE:NEXA)

Receive News & Ratings for Nexa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexa Resources and related companies with MarketBeat.com's FREE daily email newsletter.