Nexa Resources (NYSE:NEXA) Shares Gap Down – What’s Next?

Nexa Resources S.A. (NYSE:NEXA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $14.25, but opened at $13.54. Nexa Resources shares last traded at $13.5490, with a volume of 138,481 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on NEXA. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research report on Monday, July 20th. Wall Street Zen lowered shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 28th. Scotiabank boosted their price target on shares of Nexa Resources from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Friday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Bank of America lifted their target price on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Nexa Resources presently has an average rating of “Reduce” and an average target price of $14.60.

Nexa Resources Price Performance

The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80. The firm has a market capitalization of $1.76 billion, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 0.15 and a beta of 0.95. The company has a 50-day moving average price of $13.70 and a 200-day moving average price of $13.25.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. The company had revenue of $907.93 million during the quarter, compared to the consensus estimate of $906.52 million. On average, sell-side analysts predict that Nexa Resources S.A. will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEXA. Sagil Capital LLP acquired a new stake in Nexa Resources in the fourth quarter worth $11,651,000. Marshall Wace LLP acquired a new position in shares of Nexa Resources in the 4th quarter valued at $8,653,000. Pictet Asset Management Holding SA acquired a new position in shares of Nexa Resources in the 1st quarter valued at $7,572,000. Walleye Capital LLC bought a new stake in shares of Nexa Resources in the 4th quarter valued at $4,628,000. Finally, Renaissance Technologies LLC increased its position in shares of Nexa Resources by 120.8% in the 4th quarter. Renaissance Technologies LLC now owns 852,800 shares of the company’s stock valued at $7,547,000 after buying an additional 466,500 shares in the last quarter.

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.