Citigroup Downgrades Nexa Resources SA (NEXA) to Hold

By Jason Carr

In a report released today, Alexander Hacking from Citigroup downgraded Nexa Resources SA (NEXAResearch Report) to Hold, with a price target of $11.50. The company’s shares closed on Friday at $10.24, close to its 52-week low of $9.79.

According to TipRanks.com, Hacking has currently no stars on a ranking scale of 0-5 stars, with an average return of -16.6% and a 46.9% success rate. Hacking covers the Basic Materials sector, focusing on stocks such as United States Steel, Southern Copper, and Steel Dynamics.

Currently, the analyst consensus on Nexa Resources SA is a Moderate Buy with an average price target of $15.83, implying a 54.6% upside from current levels. In a report issued on January 9, BMO Capital also initiated coverage with a Hold rating on the stock with a $19 price target.

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Nexa Resources SA’s market cap is currently $1.37B and has a P/E ratio of 39.38. The company has a Price to Book ratio of 0.56.

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Nexa Resources SA engages in the production of zinc in Latin America. It operates through the Mining and Smelting segments. The Mining segment comprises of mines located in Peru and Brazil, which includes mineral exploration activities and the production of zinc concentrates, copper concentrates and lead concentrates.