Nexa Resources (NYSE:NEXA) Sets New 1-Year High – Here’s Why

Nexa Resources S.A. (NYSE:NEXA)’s share price reached a new 52-week high on Monday . The stock traded as high as $13.98 and last traded at $13.92, with a volume of 116509 shares changing hands. The stock had previously closed at $13.27.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Wall Street Zen upgraded Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Scotiabank reaffirmed a “sector perform” rating on shares of Nexa Resources in a report on Monday. JPMorgan Chase & Co. lifted 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. Finally, Morgan Stanley set a $7.70 target price on shares of Nexa Resources and gave the company an “underweight” rating in a research report on Monday, December 15th. Six equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $6.67.

Nexa Resources Price Performance

The business has a 50-day moving average of $8.73 and a two-hundred day moving average of $6.39. 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 firm has a market cap of $1.76 billion, a P/E ratio of -116.62, a price-to-earnings-growth ratio of 0.33 and a beta of 0.57.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) 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 firm had revenue of $763.52 million for the quarter, compared to analyst estimates of $649.86 million. On average, sell-side analysts anticipate that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A number of hedge funds have recently added to or reduced their stakes in NEXA. First Affirmative Financial Network acquired a new position in shares of Nexa Resources during the third quarter worth approximately $63,000. Susquehanna International Group LLP acquired a new stake in Nexa Resources in the 3rd quarter valued at $134,000. Assenagon Asset Management S.A. bought a new stake in Nexa Resources during the 3rd quarter valued at $57,000. Dimensional Fund Advisors LP raised its holdings in Nexa Resources by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after buying an additional 26,829 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 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.