Nexa Resources (NYSE:NEXA) Stock Price Down 3.9% – Should You Sell?
by Sarita Garza · The Markets DailyShares of Nexa Resources S.A. (NYSE:NEXA – Get Free Report) traded down 3.9% during trading on Thursday . The stock traded as low as $12.44 and last traded at $12.49. 381,114 shares traded hands during trading, a decline of 55% from the average session volume of 842,685 shares. The stock had previously closed at $13.00.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on NEXA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. 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, Scotiabank raised their price target on shares of Nexa Resources from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Nexa Resources has a consensus rating of “Reduce” and an average price target of $6.67.
Get Our Latest Stock Analysis on NEXA
Nexa Resources Stock Down 5.6%
The firm’s 50 day moving average price is $8.47 and its 200-day moving average price is $6.27. 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 market cap of $1.67 billion, a P/E ratio of -102.24, a price-to-earnings-growth ratio of 0.33 and a beta of 0.57.
Nexa Resources (NYSE:NEXA – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $763.52 million during the quarter, compared to analyst estimates of $649.86 million. As a group, equities research analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current year.
Institutional Investors Weigh In On Nexa Resources
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXA. Assenagon Asset Management S.A. boosted its holdings in 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 during the last quarter. First Affirmative Financial Network acquired a new stake in shares of Nexa Resources in the 3rd quarter valued at approximately $63,000. Susquehanna International Group LLP bought a new position in Nexa Resources during the 3rd quarter worth approximately $134,000. Millennium Management LLC grew its holdings in Nexa Resources by 124.1% during 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. Finally, Citadel Advisors LLC grew its holdings in Nexa Resources by 142.4% during the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after purchasing an additional 35,411 shares during the period.
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.