Nexa Resources (NYSE:NEXA) Shares Up 5.3% – What’s Next?
by Kim Johansen · The Markets DailyNexa Resources S.A. (NYSE:NEXA – Get Free Report) shot up 5.3% during trading on Friday . The company traded as high as $12.93 and last traded at $12.9650. 225,183 shares changed hands during trading, a decline of 73% from the average session volume of 837,220 shares. The stock had previously closed at $12.31.
Analyst Ratings Changes
Several equities research analysts recently weighed in on NEXA shares. JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a research report on Monday, December 29th. Scotiabank boosted their price target on shares of Nexa Resources from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Finally, Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a report on Saturday, November 1st. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Nexa Resources currently has a consensus rating of “Reduce” and an average price target of $6.67.
View Our Latest Research Report on NEXA
Nexa Resources Trading Up 7.1%
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 company has a 50-day moving average price of $8.73 and a two-hundred day moving average price of $6.38.
Nexa Resources (NYSE:NEXA – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.14). The firm had revenue of $763.52 million for the quarter, compared to analysts’ expectations of $649.86 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. As a group, sell-side analysts predict that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP boosted its stake in Nexa Resources by 7.5% during the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after buying an additional 2,504 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Nexa Resources in the 3rd quarter valued at about $57,000. First Affirmative Financial Network bought a new stake in shares of Nexa Resources during the 3rd quarter valued at about $63,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 26,829 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Nexa Resources in the third quarter worth approximately $134,000.
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.