Short Interest in Nexa Resources S.A. (NYSE:NEXA) Drops By 39.7%

Nexa Resources S.A. (NYSE:NEXA) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 250,929 shares, a decline of 39.7% from the May 31st total of 416,348 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,048,845 shares, the short-interest ratio is presently 0.2 days.

Nexa Resources Trading Up 8.2%

Shares of NEXA traded up $0.99 during midday trading on Thursday, hitting $13.03. 1,628,539 shares of the stock were exchanged, compared to its average volume of 1,012,716. Nexa Resources has a 52-week low of $4.61 and a 52-week high of $16.89. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a fifty day simple moving average of $14.16 and a 200 day simple moving average of $12.23. The firm has a market cap of $1.73 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.28 and a beta of 0.94.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Citigroup upped their price objective on shares of Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Finally, Scotiabank lifted their target price on shares of Nexa Resources from $14.00 to $14.50 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.43.

Hedge Funds Weigh In On Nexa Resources

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Nexa Resources by 3.8% during the third 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. Citadel Advisors LLC boosted its holdings in 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. Millennium Management LLC grew its stake in Nexa Resources by 124.1% during the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Nexa Resources during the 3rd quarter worth $134,000. Finally, First Affirmative Financial Network purchased a new stake in Nexa Resources during the 3rd quarter worth about $63,000.

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.