Nexa Resources S.A. (NYSE:NEXA) Sees Significant Increase in Short Interest

Nexa Resources S.A. (NYSE:NEXA) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 256,195 shares, an increase of 96.5% from the March 15th total of 130,378 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 525,133 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. lifted their target price on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Citigroup lifted their target price on Nexa Resources from $11.00 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday. Zacks Research cut Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nexa Resources currently has a consensus rating of “Hold” and a consensus target price of $9.12.

Nexa Resources Trading Down 1.4%

Shares of NYSE NEXA opened at $11.92 on Wednesday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.14 and a beta of 0.62. The business has a 50 day simple moving average of $11.37 and a 200 day simple moving average of $9.09. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $14.94. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. The business had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%. On average, research analysts predict that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Nexa Resources Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, July 28th will be issued a dividend of $0.1321 per share. The ex-dividend date of this dividend is Tuesday, July 28th. Nexa Resources’s dividend payout ratio is currently 10.00%.

Institutional Trading of Nexa Resources

Several large investors have recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in shares of Nexa Resources in the fourth quarter valued at approximately $207,000. Engineers Gate Manager LP boosted its position in shares of Nexa Resources by 69.7% in the fourth quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock valued at $155,000 after acquiring an additional 7,206 shares during the period. Hsbc Holdings PLC boosted its position in shares of Nexa Resources by 47.0% in the fourth quarter. Hsbc Holdings PLC now owns 16,454 shares of the company’s stock valued at $145,000 after acquiring an additional 5,263 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Nexa Resources in the third quarter valued at approximately $134,000. Finally, Susquehanna Portfolio Strategies LLC bought a new stake in shares of Nexa Resources in the fourth quarter valued at approximately $88,000.

Nexa Resources Company Profile

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.