Nexa Resources (NYSE:NEXA) Sees Large Volume Increase – Here’s What Happened
by Amy Steele · The Cerbat GemNexa Resources S.A. (NYSE:NEXA – Get Free Report) shares saw strong trading volume on Monday . 161,021 shares traded hands during trading, an increase of 62% from the previous session’s volume of 99,132 shares.The stock last traded at $8.89 and had previously closed at $9.40.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Citigroup began coverage on shares of Nexa Resources in a research note on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 price objective for the company. Morgan Stanley set a $7.70 target price on Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. Scotiabank boosted their price target on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Nexa Resources presently has an average rating of “Reduce” and an average price target of $6.67.
Check Out Our Latest Report on Nexa Resources
Nexa Resources Price Performance
The firm has a market cap of $1.17 billion, a P/E ratio of -73.83, a price-to-earnings-growth ratio of 0.46 and a beta of 0.64. The stock’s 50-day moving average is $6.72 and its 200-day moving average is $5.58. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37.
Nexa Resources (NYSE:NEXA – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $649.86 million. As a group, equities analysts anticipate that Nexa Resources S.A. will post 1.03 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. GSA Capital Partners LLP lifted its position in Nexa Resources by 7.5% in the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after purchasing an additional 2,504 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Nexa Resources in the 3rd quarter valued at approximately $57,000. First Affirmative Financial Network bought a new position in shares of Nexa Resources during the 3rd quarter worth approximately $63,000. Dimensional Fund Advisors LP lifted its position in shares of Nexa Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after buying an additional 26,829 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in Nexa Resources in the 3rd quarter valued at $134,000.
About Nexa Resources
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.