Nexa Resources (NYSE:NEXA) Sees Large Volume Increase – What’s Next?

Shares of Nexa Resources S.A. (NYSE:NEXA) saw unusually-strong trading volume on Monday . Approximately 76,914 shares changed hands during trading, an increase of 84% from the previous session’s volume of 41,708 shares.The stock last traded at $5.5950 and had previously closed at $5.25.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NEXA shares. JPMorgan Chase & Co. boosted their price target on shares of Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Morgan Stanley cut Nexa Resources from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $7.00 to $5.00 in a research report on Tuesday, July 15th. Citigroup initiated coverage on Nexa Resources in a research report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nexa Resources in a research report on Wednesday, October 8th. Finally, Scotiabank boosted their target price on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nexa Resources presently has a consensus rating of “Reduce” and an average target price of $6.29.

Nexa Resources Price Performance

The stock has a market cap of $727.10 million, a price-to-earnings ratio of -45.79 and a beta of 0.84. The stock’s 50 day moving average price is $5.21 and its two-hundred day moving average price is $5.10. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results 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). The company had revenue of $763.50 million for the quarter, compared to analyst estimates of $649.86 million. Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%. Equities research analysts forecast that Nexa Resources S.A. will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. GSA Capital Partners LLP boosted its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,753 shares of the company’s stock after buying an additional 2,504 shares during the quarter. GSA Capital Partners LLP’s holdings in Nexa Resources were worth $178,000 at the end of the most recent reporting period.

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.