Nexa Resources (NYSE:NEXA) Sets New 12-Month High – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $13.98 and last traded at $13.92, with a volume of 116509 shares traded. The stock had previously closed at $13.27.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Nexa Resources in a report on Monday, December 29th. Scotiabank reissued a “sector perform” rating on shares of Nexa Resources in a research report on Monday. Wall Street Zen raised Nexa Resources to a “buy” rating in a research report on Saturday, November 1st. Morgan Stanley set a $7.70 price objective on shares of Nexa Resources and gave the company an “underweight” rating in a report on Monday, December 15th. Finally, JPMorgan Chase & Co. boosted their price objective 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $6.67.

Nexa Resources Trading Up 5.5%

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.60 and a current ratio of 0.91. The firm has a fifty day moving average price of $8.73 and a 200 day moving average price of $6.39. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -116.62, a P/E/G ratio of 0.33 and a beta of 0.57.

Nexa Resources (NYSE:NEXA) last posted 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). Nexa Resources had a negative return on equity of 8.80% and a negative net margin of 0.57%.The firm had revenue of $763.52 million for the quarter, compared to the consensus estimate of $649.86 million. As a group, equities analysts predict that Nexa Resources S.A. will post 1.03 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Nexa Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares during the period. Millennium Management LLC increased its holdings in shares of Nexa Resources by 124.1% in 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 during the last quarter. Citadel Advisors LLC raised its position in shares of Nexa Resources by 142.4% in the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after purchasing an additional 35,411 shares during the period. Assenagon Asset Management S.A. lifted its stake 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 worth $390,000 after buying an additional 32,581 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Nexa Resources by 7.5% during the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after buying an additional 2,504 shares during the period.

About Nexa Resources

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.