Nexa Resources (NYSE:NEXA) Trading Down 9.2% – Here’s What Happened

Nexa Resources S.A. (NYSE:NEXA)’s stock price traded down 9.2% on Thursday . The stock traded as low as $11.37 and last traded at $11.3420. 286,473 shares changed hands during trading, a decline of 66% from the average session volume of 834,820 shares. The stock had previously closed at $12.49.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Scotiabank reissued a “sector perform” rating on shares of Nexa Resources in a report on Monday, January 26th. Morgan Stanley set a $7.70 target price on shares of Nexa Resources and gave the stock an “underweight” rating in a research report on Monday, December 15th. Finally, Zacks Research upgraded shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.81.

Nexa Resources Trading Down 5.0%

The stock has a 50-day moving average of $11.70 and a 200 day moving average of $7.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.87 and a quick ratio of 0.58.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, February 26th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. Nexa Resources had a net margin of 4.42% and a return on equity of 11.81%. The firm had revenue of $903.00 million for the quarter, compared to analyst estimates of $823.27 million. As a group, equities analysts anticipate that Nexa Resources S.A. will post 1.03 EPS for the current year.

Nexa Resources Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources’s payout ratio is 10.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources during the fourth quarter worth about $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Nexa Resources in the 4th quarter valued at approximately $44,000. Assenagon Asset Management S.A. bought a new stake in shares of Nexa Resources during the 3rd quarter valued at approximately $57,000. First Affirmative Financial Network acquired a new position in Nexa Resources during the 3rd quarter worth approximately $63,000. Finally, New York State Common Retirement Fund acquired a new position in Nexa Resources during the 4th quarter worth approximately $83,000.

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.