Nexa Resources (NYSE:NEXA) Hits New 1-Year High – Here’s What Happened

Nexa Resources S.A. (NYSE:NEXA) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $9.58 and last traded at $9.61, with a volume of 360817 shares changing hands. The stock had previously closed at $9.11.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley set a $7.70 price objective on Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. JPMorgan Chase & Co. increased their price target 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. Citigroup began coverage on shares of Nexa Resources in a research report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 price objective on the stock. Finally, Wall Street Zen upgraded shares of Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $6.67.

Nexa Resources Stock Performance

The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. The firm has a market capitalization of $1.28 billion, a PE ratio of -79.70, a P/E/G ratio of 0.28 and a beta of 0.57. The company’s fifty day simple moving average is $7.38 and its 200 day simple moving average is $5.84.

Nexa Resources (NYSE:NEXA) last posted its 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 business had revenue of $763.52 million during the quarter, compared to analysts’ expectations of $649.86 million. Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%. As a group, equities research analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

Several institutional investors have recently made changes to their positions in NEXA. Dimensional Fund Advisors LP boosted its holdings in shares of Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares during the period. Millennium Management LLC lifted its holdings in Nexa Resources by 124.1% during the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares in the last quarter. Citadel Advisors LLC boosted its stake in Nexa Resources by 142.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after purchasing an additional 35,411 shares during the period. GSA Capital Partners LLP boosted its stake in Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after purchasing an additional 2,504 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in Nexa Resources during the 3rd quarter valued at about $134,000.

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.