Nexa Resources S.A. (NYSE:NEXA) Short Interest Down 32.5% in December

Nexa Resources S.A. (NYSE:NEXA) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 169,202 shares, a drop of 32.5% from the December 15th total of 250,526 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 783,911 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 783,911 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Nexa Resources Trading Down 1.2%

Nexa Resources stock traded down $0.14 during mid-day trading on Friday, hitting $11.80. The stock had a trading volume of 808,779 shares, compared to its average volume of 773,208. The stock has a market capitalization of $1.58 billion, a PE ratio of -98.33, a P/E/G ratio of 0.31 and a beta of 0.57. Nexa Resources has a 12 month low of $4.44 and a 12 month high of $12.10. 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 stock has a 50-day simple moving average of $8.07 and a two-hundred day simple moving average of $6.11.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 will post 1.03 EPS for the current year.

Institutional Trading of Nexa Resources

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

Analyst Ratings Changes

NEXA has been the topic of a number of research analyst reports. 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 target price on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Wall Street Zen upgraded Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Scotiabank upped their price target 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. Finally, Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the stock an “underweight” rating in a report on Monday, December 15th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Nexa Resources presently has a consensus rating of “Reduce” and a consensus price target of $6.67.

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.