Short Interest in Nexa Resources S.A. (NYSE:NEXA) Decreases By 33.8%

Nexa Resources S.A. (NYSE:NEXA) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 25,300 shares, a drop of 33.8% from the January 15th total of 38,200 shares. Based on an average daily volume of 115,800 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP increased its position in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 628,414 shares of the company’s stock after purchasing an additional 7,220 shares during the period. Dimensional Fund Advisors LP owned 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent reporting period.

Analyst Ratings Changes

Several brokerages recently issued reports on NEXA. Scotiabank dropped their target price on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a report on Friday, February 7th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.16.

Nexa Resources Trading Up 0.1 %

Shares of Nexa Resources stock opened at $5.68 on Friday. The company’s fifty day simple moving average is $7.10 and its 200-day simple moving average is $7.14. The stock has a market capitalization of $751.60 million, a PE ratio of -3.72 and a beta of 1.45. Nexa Resources has a 1-year low of $5.10 and a 1-year high of $9.61. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76.

About Nexa Resources

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.