Nexa Resources (NYSE:NEXA) Stock Price Down 9.4% – Time to Sell?

Nexa Resources S.A. (NYSE:NEXA)’s stock price was down 9.4% during trading on Thursday . The stock traded as low as $12.75 and last traded at $12.73. Approximately 238,132 shares traded hands during trading, a decline of 76% from the average daily volume of 982,951 shares. The stock had previously closed at $14.05.

Analyst Upgrades and Downgrades

NEXA has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Scotiabank upped their target price on Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Morgan Stanley lifted their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen lowered Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $13.00.

Nexa Resources Stock Down 2.7%

The company has a market cap of $1.62 billion, a P/E ratio of 7.74, a PEG ratio of 0.14 and a beta of 0.94. The stock’s 50-day moving average price is $13.80 and its 200-day moving average price is $12.63. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13.

Nexa Resources (NYSE:NEXA) last issued its earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $888.32 million during the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%. As a group, research analysts forecast that Nexa Resources S.A. will post 2.7 EPS for the current year.

Institutional Trading of Nexa Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Management Professionals Inc. bought a new position in shares of Nexa Resources in the second quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources during the 4th quarter valued at about $36,000. Royal Bank of Canada raised its stake in shares of Nexa Resources by 173.8% in the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after purchasing an additional 2,784 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Nexa Resources in the fourth quarter valued at approximately $44,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Nexa Resources during the fourth quarter valued at 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.