Nexa Resources (NYSE:NEXA) Trading Down 12.2% – What’s Next?

Nexa Resources S.A. (NYSE:NEXA) fell 12.2% during mid-day trading on Thursday . The company traded as low as $15.30 and last traded at $14.6740. 272,926 shares traded hands during trading, a decline of 72% from the average session volume of 981,772 shares. The stock had previously closed at $16.72.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NEXA. JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Thursday, February 26th. Citigroup lifted their price objective on Nexa Resources from $11.00 to $12.50 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Wall Street Zen raised Nexa Resources from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 1st. Scotiabank cut their price target on Nexa Resources to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Nexa Resources currently has a consensus rating of “Hold” and a consensus target price of $9.74.

Nexa Resources Price Performance

The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.24 and a beta of 0.90. The company has a 50-day moving average price of $12.31 and a 200-day moving average price of $10.12. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.58 and a current ratio of 0.85.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Wednesday, May 6th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $888.30 million during the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%. On average, equities research analysts expect that Nexa Resources S.A. will post 2.08 EPS for the current fiscal year.

Nexa Resources Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, July 28th will be given a $0.1321 dividend. The ex-dividend date is Tuesday, July 28th. Nexa Resources’s payout ratio is currently 6.33%.

Hedge Funds Weigh In On Nexa Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Nexa Resources in the 4th quarter valued at approximately $36,000. Nano Cap New Millennium Growth Fund L P acquired a new position in Nexa Resources during the 4th quarter worth approximately $44,000. New York State Common Retirement Fund acquired a new position in Nexa Resources during the 4th quarter worth approximately $83,000. Susquehanna Portfolio Strategies LLC acquired a new position in Nexa Resources during the 4th quarter worth approximately $88,000. Finally, First Affirmative Financial Network acquired a new position in Nexa Resources during the 3rd quarter worth approximately $63,000.

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.