Nexa Resources (NYSE:NEXA) Shares Down 4.6% – What’s Next?

by · The Cerbat Gem

Nexa Resources S.A. (NYSE:NEXA – Get Free Report)’s share price dropped 4.6% on Friday . The stock traded as low as $5.99 and last traded at $6.0550. Approximately 96,483 shares changed hands during mid-day trading, an increase of 95% from the average daily volume of 49,602 shares. The stock had previously closed at $6.35.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEXA. Scotiabank increased their price objective on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Nexa Resources in a research note on Tuesday. Citigroup started coverage on shares of Nexa Resources in a research note on Tuesday, September 16th. They set a “neutral” rating and a $5.50 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a research report on Saturday, November 1st. Five analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $6.29.

View Our Latest Stock Analysis on Nexa Resources

Nexa Resources Trading Down 2.0%

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 stock has a market cap of $823.78 million, a P/E ratio of -51.83 and a beta of 0.84. The business’s fifty day simple moving average is $5.30 and its 200 day simple moving average is $5.11.

Nexa Resources (NYSE:NEXA – Get Free Report) last released its 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 return on equity of 8.80% and a negative net margin of 0.57%.The business had revenue of $763.50 million for the quarter, compared to analyst estimates of $649.86 million. As a group, analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake 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. GSA Capital Partners LLP increased its holdings in Nexa Resources by 7.5% in the 3rd 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. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Nexa Resources in the 3rd quarter valued at approximately $57,000.

About Nexa Resources

(Get Free Report)

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.

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