FY2024 EPS Forecast for Nexa Resources Boosted by Analyst

Nexa Resources S.A. (NYSE:NEXA - Free Report) - Equities researchers at Scotiabank lifted their FY2024 EPS estimates for Nexa Resources in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the company will post earnings per share of $0.30 for the year, up from their previous estimate of ($0.44). Scotiabank has a "Sector Underperform" rating and a $7.00 price target 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 upgraded shares of Nexa Resources from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $7.56.

Nexa Resources Stock Performance

NEXA stock traded down $0.46 during mid-day trading on Friday, reaching $6.46. 66,593 shares of the stock traded hands, compared to its average volume of 129,865. The firm has a market capitalization of $855.56 million, a PE ratio of -4.28 and a beta of 1.48. The business has a 50-day moving average of $7.84 and a two-hundred day moving average of $7.37. Nexa Resources has a 52 week low of $5.10 and a 52 week high of $9.61. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39.

Institutional Investors Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC boosted its holdings in shares of Nexa Resources S.A. (NYSE:NEXA - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 341,792 shares of the company's stock after acquiring an additional 12,092 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission.

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.