FY2024 EPS Estimates for Nexa Resources Lifted by Scotiabank

Nexa Resources S.A. (NYSE:NEXA) – Scotiabank raised their FY2024 earnings per share (EPS) estimates for Nexa Resources in a research report issued to clients and 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 previous estimate of ($0.44). Scotiabank currently 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 raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $7.50 to $7.80 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.56.

Nexa Resources Stock Performance

Shares of NEXA stock opened at $6.46 on Friday. Nexa Resources has a fifty-two week low of $5.10 and a fifty-two week high of $9.61. The stock’s 50-day moving average is $7.84 and its two-hundred day moving average is $7.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. The firm has a market cap of $855.56 million, a P/E ratio of -4.28 and a beta of 1.48.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP boosted its holdings in Nexa Resources S.A. (NYSE:NEXA) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 593,983 shares of the company’s stock after buying an additional 63,197 shares during the period. Dimensional Fund Advisors LP owned approximately 0.45% of Nexa Resources worth $4,538,000 as of its most recent SEC filing.

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.