Nexa Resources (NYSE:NEXA) Stock Price Down 7.8% – Should You Sell?

Nexa Resources S.A. (NYSE:NEXA)’s stock price dropped 7.8% during trading on Wednesday . The company traded as low as $12.60 and last traded at $12.5160. Approximately 327,571 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,012,151 shares. The stock had previously closed at $13.58.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Scotiabank increased their target price on shares of Nexa Resources from $14.00 to $14.50 and gave the company a “sector perform” rating in a research report on Monday, June 15th. Citigroup increased their price target on shares of Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 9th. Wall Street Zen lowered Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.43.

Nexa Resources Stock Performance

The firm has a fifty day moving average price of $14.39 and a 200 day moving average price of $12.04. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13. The firm has a market cap of $1.62 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.32 and a beta of 0.88.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The firm had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. As a group, equities research analysts expect that Nexa Resources S.A. will post 2.81 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

Several institutional investors have recently made changes to their positions in NEXA. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources in the fourth quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Nexa Resources in the fourth quarter valued at $44,000. Royal Bank of Canada lifted its stake in shares of Nexa Resources by 173.8% in the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after purchasing an additional 2,784 shares during the last quarter. First Affirmative Financial Network purchased a new position in shares of Nexa Resources during the 3rd quarter worth $63,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nexa Resources during the 4th quarter worth about $83,000.

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.