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

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research cut Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Wall Street Zen raised Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Monday. Bank of America raised their price objective on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexa Resources in a research report on Monday. Finally, Scotiabank raised their price target on shares of Nexa Resources from $14.50 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $13.00.

Nexa Resources Trading Down 3.4%

The company has a market capitalization of $1.74 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.15 and a beta of 0.94. The company has a 50-day simple moving average of $13.69 and a 200 day simple moving average of $12.77. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The company 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%. Sell-side analysts expect that Nexa Resources S.A. will post 2.7 earnings per share for the current year.

Institutional Trading of Nexa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in shares of Nexa Resources during the 2nd quarter worth about $28,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexa Resources in the fourth quarter valued at about $36,000. Royal Bank of Canada lifted its stake in shares of Nexa Resources by 173.8% in the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after buying an additional 2,784 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new stake in Nexa Resources during the fourth quarter worth about $44,000. Finally, New York State Common Retirement Fund acquired a new stake in Nexa Resources during the fourth quarter worth about $83,000.

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.