Short Interest in Nexa Resources S.A. (NYSE:NEXA) Decreases By 47.3%

Nexa Resources S.A. (NYSE:NEXA) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 17,700 shares, a drop of 47.3% from the February 28th total of 33,600 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 110,500 shares, the days-to-cover ratio is currently 0.2 days.

Nexa Resources Stock Up 0.9 %

Shares of Nexa Resources stock traded up $0.06 during trading on Friday, hitting $6.15. 27,519 shares of the stock were exchanged, compared to its average volume of 47,766. The stock has a market cap of $813.84 million, a price-to-earnings ratio of -3.99 and a beta of 1.50. The firm’s 50-day moving average price is $5.72 and its 200 day moving average price is $6.92. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76. Nexa Resources has a 12-month low of $5.04 and a 12-month high of $9.61.

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 the consensus estimate of $0.20 by ($1.20). The business had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. As a group, analysts forecast that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC purchased a new position in shares of Nexa Resources S.A. (NYSE:NEXA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,341 shares of the company’s stock, valued at approximately $126,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NEXA shares. Scotiabank cut their price target on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research note on Friday, February 7th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Finally, Bank of America decreased their price target on shares of Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Monday, March 10th.

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.