Nexa Resources (NYSE:NEXA) Sees Large Volume Increase – Here’s Why

by · The Cerbat Gem

Nexa Resources S.A. (NYSE:NEXA – Get Free Report) saw strong trading volume on Tuesday . 159,576 shares traded hands during trading, an increase of 193% from the previous session’s volume of 54,497 shares.The stock last traded at $6.58 and had previously closed at $6.25.

Wall Street Analyst Weigh In

Several analysts have issued reports on NEXA shares. Citigroup assumed coverage on shares of Nexa Resources in a research note on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Nexa Resources in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Wall Street Zen upgraded Nexa Resources to a “buy” rating in a report on Saturday, November 1st. Finally, Scotiabank raised their target price on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $6.29.

Get Our Latest Stock Report on Nexa Resources

Nexa Resources Stock Up 5.2%

The company’s fifty day simple moving average is $5.49 and its 200 day simple moving average is $5.14. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $870.79 million, a P/E ratio of -54.79, a price-to-earnings-growth ratio of 0.37 and a beta of 0.84.

Nexa Resources (NYSE:NEXA – Get Free Report) last released its quarterly 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). Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. The firm had revenue of $763.50 million for the quarter, compared to the consensus estimate of $649.86 million. Research analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEXA. First Affirmative Financial Network purchased a new position in Nexa Resources in the 3rd quarter worth about $63,000. Susquehanna International Group LLP purchased a new position in Nexa Resources in the third quarter worth about $134,000. Millennium Management LLC increased its position in shares of Nexa Resources by 124.1% during the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after purchasing an additional 40,535 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of 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. Finally, Dimensional Fund Advisors LP raised its position in 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.

About Nexa Resources

(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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