Nexa Resources (NYSE:NEXA) Sees Unusually-High Trading Volume – Should You Buy?

by · The Markets Daily

Shares of Nexa Resources S.A. (NYSE:NEXA – Get Free Report) saw unusually-strong trading volume on Monday . Approximately 34,782 shares changed hands during trading, a decline of 39% from the previous session’s volume of 56,599 shares.The stock last traded at $7.1750 and had previously closed at $7.00.

Wall Street Analyst Weigh In

NEXA has been the subject of several analyst reports. Citigroup initiated coverage on Nexa Resources in a report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 target price for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Nexa Resources in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Nexa Resources to a “buy” rating in a report on Saturday, November 1st. Scotiabank raised their price target on Nexa Resources from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $6.29.

Read Our Latest Stock Report on Nexa Resources

Nexa Resources Stock Up 0.9%

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 stock has a market capitalization of $935.16 million, a price-to-earnings ratio of -58.87, a PEG ratio of 0.34 and a beta of 0.64. The firm’s fifty day moving average is $5.63 and its 200-day moving average is $5.18.

Nexa Resources (NYSE:NEXA – Get Free Report) last announced its quarterly earnings data 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). Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The company had revenue of $763.52 million for the quarter, compared to analyst estimates of $649.86 million. On average, sell-side analysts predict that Nexa Resources S.A. will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in Nexa Resources during the 3rd quarter valued at approximately $57,000. First Affirmative Financial Network bought a new stake in Nexa Resources in the 3rd quarter valued at about $63,000. Susquehanna International Group LLP bought a new stake in Nexa Resources in the 3rd quarter valued at about $134,000. GSA Capital Partners LLP boosted its stake in Nexa Resources by 7.5% during the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after purchasing an additional 2,504 shares during the period. Finally, Citadel Advisors LLC grew its position 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 last quarter.

Nexa Resources Company Profile

(Get Free Report)

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.

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