Nexa Resources S.A. (NYSE:NEXA) Short Interest Down 47.3% in March

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

Analyst Ratings Changes

A number of research firms recently weighed in on NEXA. Scotiabank lowered 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 research note on Friday, February 7th. Bank of America lowered their price objective on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating on the stock in a research note on Monday, March 10th. Finally, Morgan Stanley raised 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.

Institutional Inflows and Outflows

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

Nexa Resources Price Performance

Nexa Resources stock traded up $0.06 during trading hours 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 capitalization of $813.84 million, a P/E ratio of -3.99 and a beta of 1.50. The business’s 50-day moving average is $5.72 and its two-hundred day moving average is $6.91. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 1.13. 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 results on Thursday, February 20th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. The business had revenue of $740.92 million for the quarter, compared to the consensus estimate of $731.81 million. Equities research analysts expect that Nexa Resources will post 1.03 EPS for the current fiscal year.

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.