Nexa Resources (NYSE:NEXA) Shares Gap Up – What’s Next?

Nexa Resources S.A. (NYSE:NEXA) shares gapped up before the market opened on Tuesday. The stock had previously closed at $12.88, but opened at $13.33. Nexa Resources shares last traded at $13.23, with a volume of 116,401 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NEXA. Bank of America lifted their price target on shares of Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, July 24th. Zacks Research downgraded Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley upgraded Nexa Resources from an “equal weight” rating to an “overweight” rating and set a $14.20 price objective on the stock in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.94.

Nexa Resources Trading Down 3.6%

The firm has a 50-day moving average of $13.44 and a two-hundred day moving average of $13.48. The firm has a market capitalization of $1.67 billion, a P/E ratio of 6.05, a P/E/G ratio of 0.15 and a beta of 0.94. The company has a current ratio of 0.80, a quick ratio of 0.46 and a debt-to-equity ratio of 1.08.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The business had revenue of $907.93 million during the quarter, compared to the consensus estimate of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. On average, analysts anticipate that Nexa Resources S.A. will post 2.54 EPS for the current year.

Institutional Investors Weigh In On Nexa Resources

Hedge funds have recently made changes to their positions in the stock. Triumph Capital Management boosted its position in Nexa Resources by 4.4% in the third quarter. Triumph Capital Management now owns 33,704 shares of the company’s stock valued at $411,000 after buying an additional 1,431 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Nexa Resources during the second quarter worth $28,000. Royal Bank of Canada increased its holdings in shares of Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after buying an additional 2,784 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Nexa Resources by 17.5% during the first quarter. Hsbc Holdings PLC now owns 19,333 shares of the company’s stock worth $203,000 after buying an additional 2,879 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Nexa Resources during the second quarter worth $105,000.

About Nexa Resources

Nexa Resources SA is a mining and metals company focused primarily on the exploration, extraction, processing and production of zinc, lead, copper and silver. The company also produces sulfuric acid and other related byproducts and specialty metals through its integrated mining and smelting operations.

Nexa operates mines and metallurgical facilities in Brazil and Peru, serving industrial customers and markets that use zinc and other base metals in applications such as galvanizing, construction, transportation, infrastructure and manufacturing.