Nexa Resources S.A. (NYSE:NEXA) Short Interest Update

Nexa Resources S.A. (NYSE:NEXA) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 33,600 shares, an increase of 52.7% from the February 13th total of 22,000 shares. Based on an average trading volume of 112,700 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank reduced their price objective on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a research note on Friday, February 7th. Bank of America reduced their price objective on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Monday, March 10th. Finally, Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.86.

Nexa Resources Stock Up 0.7 %

NEXA traded up $0.04 during trading on Friday, reaching $5.25. 9,392 shares of the stock traded hands, compared to its average volume of 48,432. The stock has a market cap of $694.64 million, a price-to-earnings ratio of -3.41 and a beta of 1.50. Nexa Resources has a fifty-two week low of $5.04 and a fifty-two week 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. The stock’s 50-day simple moving average is $5.86 and its two-hundred day simple moving average is $6.94.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The firm had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. As a group, equities research analysts expect that Nexa Resources will post 1.03 EPS for the current year.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP raised its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,414 shares of the company’s stock after buying 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 quarter.

Nexa Resources Company Profile

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.