REAL-TIME GLOBAL RESEARCH
Risk Reward Update
Research evidence excerpt
Not for redistribution without written consent of Morgan Stanley
M
Update
August 19, 2026 03:59 AM GMT
Morgan Stanley & Co. LLC
Nexa Resources SA | Latin America
Carlos De Alba
Equity Analyst
Risk Reward Update
Nexa Resources SA (NEXA.N, NEXA UN)
What’s Changed
Latin America Metals & Mining | Brazil
Nexa Resources SA (NEXA.N)
From
To
Price Target
US$12.50
US$13.50
Bull Case
US$21.00
US$23.00
Base Case
US$12.50
US$13.50
Updated Components
EPS
Bull Base Bear Scenarios
Risk Reward for Nexa Resources SA (NEXA.N) has been updated
Reason for change
Stock Rating
Industry View
Price target
Shr price, close (Aug 17, 2026)
52-Week Range
Fiscal Year Ending
EPS (US$)**
Prior EPS (US$)**
Equal-weight
No Rating
US$13.50
US$14.38
US$16.68-4.70
12/25 12/26e 12/27e 12/28e
0.68
2.96
3.03
2.84
2.79
1.63
1.61
Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare
framework
** = Based on consensus methodology
e = Morgan Stanley Research estimates
We are updating our estimates to reflect 2Q26 results.
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