Nexa Resources (NYSE:NEXA) Stock Price Up 9% – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA)’s share price rose 9% during trading on Thursday . The company traded as high as $5.94 and last traded at $5.85. Approximately 46,975 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 47,417 shares. The stock had previously closed at $5.37.

Analyst Ratings Changes

NEXA has been the subject of a number of research reports. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank decreased their price objective on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.16.

Nexa Resources Trading Down 8.3 %

The company has a market cap of $727.76 million, a price-to-earnings ratio of -3.57 and a beta of 1.45. 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 firm’s fifty day moving average price is $6.80 and its 200-day moving average price is $7.07.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results 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). Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. The firm had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. On average, equities analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP lifted its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 628,414 shares of the company’s stock after purchasing an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned about 0.47% of Nexa Resources worth $5,531,000 at the end of the most recent reporting period.

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.