Nexa Resources (NYSE:NEXA) Sees Strong Trading Volume – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA) shares saw strong trading volume on Tuesday . 33,211 shares changed hands during trading, an increase of 5% from the previous session’s volume of 31,490 shares.The stock last traded at $8.86 and had previously closed at $8.98.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Scotiabank dropped their target price on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a report on Monday, November 4th. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.31.

Nexa Resources Trading Down 2.0 %

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.83 and a beta of 1.52. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average is $7.99 and its 200 day moving average is $7.41.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC raised its holdings in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,792 shares of the company’s stock after acquiring an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned approximately 0.26% of Nexa Resources worth $2,611,000 at the end of the most recent quarter.

About Nexa Resources

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.