Nexa Resources (NYSE:NEXA) Trading Down 7.8% – Time to Sell?

Nexa Resources S.A. (NYSE:NEXA)’s share price fell 7.8% during mid-day trading on Wednesday . The stock traded as low as $12.60 and last traded at $12.5160. Approximately 327,571 shares changed hands during trading, a decline of 68% from the average daily volume of 1,012,151 shares. The stock had previously closed at $13.58.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NEXA. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 9th. Citigroup increased their price objective on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Finally, Scotiabank upped their price target on Nexa Resources from $14.00 to $14.50 and gave the company a “sector perform” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nexa Resources currently has an average rating of “Hold” and a consensus target price of $11.43.

Nexa Resources Stock Up 0.8%

The stock has a market cap of $1.65 billion, a PE ratio of 7.87, a P/E/G ratio of 0.28 and a beta of 0.88. The business has a 50 day moving average of $14.40 and a 200-day moving average of $12.11. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 1.13.

Nexa Resources (NYSE:NEXA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%. Equities research analysts predict that Nexa Resources S.A. will post 2.81 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

A number of large investors have recently bought and sold shares of NEXA. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexa Resources in the fourth quarter valued at $36,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Nexa Resources during the fourth quarter worth about $44,000. Royal Bank of Canada boosted its stake in shares of Nexa Resources by 173.8% during the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after buying an additional 2,784 shares during the period. First Affirmative Financial Network purchased a new position in shares of Nexa Resources during the third quarter worth about $63,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Nexa Resources during the fourth quarter worth about $83,000.

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.