Nexa Resources (NYSE:NEXA) Stock Price Up 5.3% – What’s Next?

Nexa Resources S.A. (NYSE:NEXA) was up 5.3% during mid-day trading on Friday . The stock traded as high as $12.93 and last traded at $12.9650. Approximately 225,183 shares traded hands during trading, a decline of 73% from the average daily volume of 837,220 shares. The stock had previously closed at $12.31.

Analyst Upgrades and Downgrades

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

Nexa Resources Price Performance

The stock has a market cap of $1.72 billion, a P/E ratio of -109.62, a price-to-earnings-growth ratio of 0.34 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. The company’s fifty day simple moving average is $8.59 and its 200-day simple moving average is $6.32.

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

Hedge Funds Weigh In On Nexa Resources

Several institutional investors have recently added to or reduced their stakes in NEXA. Assenagon Asset Management S.A. acquired a new position in Nexa Resources in the third quarter valued at about $57,000. GSA Capital Partners LLP boosted its holdings in shares of Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after acquiring an additional 2,504 shares in the last quarter. First Affirmative Financial Network bought a new stake in Nexa Resources during the 3rd quarter worth approximately $63,000. Susquehanna International Group LLP acquired a new stake in Nexa Resources during the 3rd quarter valued at $134,000. Finally, Millennium Management LLC boosted its stake in Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares in the last quarter.

Nexa Resources Company Profile

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.