Nexa Resources (NYSE:NEXA) Sets New 52-Week High – Time to Buy?

Nexa Resources S.A. (NYSE:NEXA) hit a new 52-week high on Monday . The company traded as high as $10.34 and last traded at $10.2890, with a volume of 88088 shares changing hands. The stock had previously closed at $10.11.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NEXA. Scotiabank raised their price objective on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price objective on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Finally, Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $6.67.

Nexa Resources Stock Performance

The company’s 50-day moving average price is $7.67 and its two-hundred day moving average price is $5.98. The company has a market cap of $1.42 billion, a P/E ratio of -89.77, a price-to-earnings-growth ratio of 0.31 and a beta of 0.57. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.14). The business had revenue of $763.52 million for the quarter, compared to analyst estimates of $649.86 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. As a group, equities analysts forecast that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Nexa Resources during the third quarter valued at $57,000. First Affirmative Financial Network acquired a new stake in Nexa Resources during the 3rd quarter worth about $63,000. Susquehanna International Group LLP purchased a new stake in Nexa Resources during the third quarter valued at about $134,000. GSA Capital Partners LLP lifted its stake in Nexa Resources by 7.5% during the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after buying an additional 2,504 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Nexa Resources by 142.4% in the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after buying an additional 35,411 shares during the period.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.