Nexa Resources (NYSE:NEXA) Reaches New 1-Year High – What’s Next?

Nexa Resources S.A. (NYSE:NEXA) shares reached a new 52-week high on Tuesday . The company traded as high as $12.24 and last traded at $12.26, with a volume of 138073 shares changing hands. The stock had previously closed at $11.80.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Wall Street Zen raised shares of Nexa Resources to a “buy” rating in a report on Saturday, November 1st. Morgan Stanley set a $7.70 price target on shares of Nexa Resources and gave the company an “underweight” rating in a research note on Monday, December 15th. Scotiabank increased their target price on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $6.67.

Nexa Resources Stock Performance

The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -103.57, a P/E/G ratio of 0.31 and a beta of 0.57. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. The company has a 50 day simple moving average of $8.19 and a 200 day simple moving average of $6.17.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.14). The company had revenue of $763.52 million for the quarter, compared to the consensus estimate of $649.86 million. Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. As a group, equities research analysts forecast that Nexa Resources S.A. will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Nexa Resources by 283.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 44,067 shares of the company’s stock valued at $390,000 after acquiring an additional 32,581 shares in the last quarter. First Affirmative Financial Network acquired a new position in Nexa Resources in the 3rd quarter worth about $63,000. Susquehanna International Group LLP bought a new position in Nexa Resources in the third quarter valued at about $134,000. Millennium Management LLC boosted its stake in shares of Nexa Resources by 124.1% during the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after purchasing an additional 40,535 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of Nexa Resources by 142.4% during the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after purchasing an additional 35,411 shares during the last quarter.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.