Nexa Resources (NYSE:NEXA) Shares Up 5.7% – What’s Next?

Shares of Nexa Resources S.A. (NYSE:NEXA) shot up 5.7% on Wednesday . The stock traded as high as $13.55 and last traded at $13.5490. Approximately 148,260 shares were traded during trading, a decline of 85% from the average daily volume of 971,019 shares. The stock had previously closed at $12.82.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Zacks Research downgraded Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a report on Monday. Wall Street Zen raised shares of Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Monday. Scotiabank raised their target price on shares of Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Finally, 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 report on Wednesday, July 8th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.00.

Nexa Resources Price Performance

The company has a market capitalization of $1.80 billion, a P/E ratio of 8.59, a PEG ratio of 0.13 and a beta of 0.94. The stock’s fifty day simple moving average is $13.76 and its 200-day simple moving average is $12.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after purchasing an additional 26,829 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of Nexa Resources by 142.4% during the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after acquiring an additional 35,411 shares during the period. Millennium Management LLC raised its position 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 purchasing an additional 40,535 shares during the period. Susquehanna International Group LLP acquired a new stake in Nexa Resources during the 3rd quarter worth approximately $134,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Nexa Resources by 283.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock worth $390,000 after buying an additional 32,581 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.