Nexa Resources S.A. (NYSE:NEXA) Short Interest Up 98.7% in August

Nexa Resources S.A. (NYSE:NEXA) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 213,844 shares, an increase of 98.7% from the July 30th total of 107,608 shares. Based on an average daily trading volume, of 695,450 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.

Nexa Resources Stock Performance

Shares of Nexa Resources stock opened at $13.58 on Tuesday. The business has a 50-day simple moving average of $13.51 and a 200-day simple moving average of $13.13. The company has a market cap of $1.80 billion, a PE ratio of 6.50, a P/E/G ratio of 0.15 and a beta of 0.94. Nexa Resources has a one year low of $4.79 and a one year high of $16.89. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The business had revenue of $907.93 million during the quarter, compared to analyst estimates of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. On average, equities research analysts forecast that Nexa Resources will post 2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Citigroup raised their price target on Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Scotiabank boosted their price objective on Nexa Resources from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday. Bank of America increased their target price on Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a report on Monday, July 20th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nexa Resources currently has a consensus rating of “Reduce” and an average price target of $14.60.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NEXA. Financial Management Professionals Inc. acquired a new stake in Nexa Resources during the 2nd quarter worth $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources in the fourth quarter valued at $36,000. Royal Bank of Canada boosted its stake in Nexa Resources by 173.8% in the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after acquiring an additional 2,784 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Nexa Resources during the fourth quarter worth about $44,000. Finally, Quantbot Technologies LP purchased a new position in shares of Nexa Resources during the second quarter worth about $105,000.

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.