Nexa Resources (NYSE:NEXA) Shares Gap Up – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.08, but opened at $12.87. Nexa Resources shares last traded at $13.0750, with a volume of 343,560 shares.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEXA. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a report on Monday, July 20th. Citigroup lifted their price target on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Wall Street Zen cut Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 28th. Finally, Zacks Research cut Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nexa Resources presently has a consensus rating of “Reduce” and an average price target of $14.60.

Nexa Resources Trading Up 7.5%

The business has a fifty day simple moving average of $13.66 and a 200-day simple moving average of $13.26. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.46 and a current ratio of 0.80. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 6.20, a PEG ratio of 0.15 and a beta of 0.95.

Nexa Resources (NYSE:NEXA) last posted its earnings results on Thursday, August 6th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. The firm had revenue of $907.93 million during the quarter, compared to the consensus estimate of $906.52 million. As a group, equities analysts forecast that Nexa Resources S.A. will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEXA. Engineers Gate Manager LP increased its stake in shares of Nexa Resources by 83.2% in the second quarter. Engineers Gate Manager LP now owns 122,959 shares of the company’s stock valued at $1,505,000 after buying an additional 55,852 shares during the period. NewEdge Advisors LLC bought a new position in shares of Nexa Resources in the 2nd quarter worth about $203,000. Allianz Asset Management GmbH bought a new position in shares of Nexa Resources in the 2nd quarter worth about $3,630,000. Triumph Capital Management bought a new position in shares of Nexa Resources in the 2nd quarter worth about $395,000. Finally, BTG Pactual Asset Management US LLC acquired a new position in shares of Nexa Resources in the 2nd quarter valued at about $176,000.

Nexa Resources Company Profile

Nexa Resources SA is a global mining and metals company focused primarily on the exploration, mining, processing and production of zinc. The company also produces lead, silver, copper and related by-products, including sulfuric acid and specialty alloys, through its integrated mining and smelting operations.

Nexa operates mines and metallurgical facilities in Brazil and Peru, serving customers in the Americas and other international markets. Its assets include zinc mines such as Vazante and Aripuanã in Brazil and Cerro Lindo and El Porvenir in Peru, as well as zinc smelters including Cajamarquilla in Peru and facilities in Brazil.

The company traces its origins to the metals operations of Brazilian industrial group Votorantim and adopted the Nexa Resources name in connection with its 2017 public listing.