Nexa Resources S.A. (NYSE:NEXA) Short Interest Update

Nexa Resources S.A. (NYSE:NEXA) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 152,281 shares, a decline of 39.3% from the June 15th total of 250,929 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 752,706 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Nexa Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sagil Capital LLP acquired a new stake in Nexa Resources in the 4th quarter valued at approximately $11,651,000. Pictet Asset Management Holding SA acquired a new position in shares of Nexa Resources during the first quarter worth approximately $7,572,000. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Nexa Resources during the fourth quarter worth approximately $44,000. Assenagon Asset Management S.A. boosted its position in shares of Nexa Resources by 283.7% in the fourth 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 during the period. Finally, First Affirmative Financial Network bought a new stake in shares of Nexa Resources in the third quarter valued at approximately $63,000.

Nexa Resources Stock Performance

Shares of Nexa Resources stock traded down $0.98 on Thursday, reaching $13.07. The stock had a trading volume of 109,790 shares, compared to its average volume of 981,945. 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 business’s 50-day moving average price is $13.87 and its two-hundred day moving average price is $12.61. The stock has a market cap of $1.73 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 0.16 and a beta of 0.94. Nexa Resources has a fifty-two week low of $4.61 and a fifty-two week high of $16.89.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $888.32 million for the quarter, compared to analyst estimates of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. On average, sell-side analysts forecast that Nexa Resources will post 2.7 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Citigroup upped their target price on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Bank of America increased their price target on shares of Nexa Resources from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Scotiabank raised their price target on shares of Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $13.00.

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.