Nexa Resources (NYSE:NEXA) Trading Up 8.5% – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA) shares were up 8.5% on Friday . The company traded as high as $15.26 and last traded at $15.26. Approximately 569,017 shares were traded during trading, a decline of 38% from the average session volume of 919,117 shares. The stock had previously closed at $14.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America upped their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Nexa Resources from $7.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley boosted their target price on Nexa Resources from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Scotiabank reduced their target price on Nexa Resources from $15.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 28th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $14.40.

Nexa Resources Price Performance

The business’s fifty day moving average is $13.48 and its 200-day moving average is $13.04. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.80 and a quick ratio of 0.46. The firm has a market cap of $2.04 billion, a PE ratio of 7.36, a P/E/G ratio of 0.17 and a beta of 0.94.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). Nexa Resources had a return on equity of 20.25% and a net margin of 8.02%.The company had revenue of $907.93 million during the quarter, compared to the consensus estimate of $906.52 million. On average, research analysts predict that Nexa Resources S.A. will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Nexa Resources by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock valued at $3,654,000 after purchasing an additional 26,829 shares during the period. Citadel Advisors LLC raised its stake 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 buying an additional 35,411 shares during the period. Millennium Management LLC lifted its position in shares of Nexa Resources by 124.1% during the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Nexa Resources during the 3rd quarter worth $134,000. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in shares of Nexa Resources during the 4th quarter worth $44,000.

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.