Nexa Resources S.A. (NYSE:NEXA) Short Interest Down 39.3% in June

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

Hedge Funds Weigh In On Nexa Resources

Several institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. acquired a new stake in shares of Nexa Resources in the 2nd quarter valued at approximately $28,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Nexa Resources during the 4th quarter worth $36,000. Nano Cap New Millennium Growth Fund L P bought a new position in Nexa Resources during the fourth quarter worth about $44,000. Royal Bank of Canada grew its stake in Nexa Resources by 173.8% in the first quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock valued at $47,000 after acquiring an additional 2,784 shares during the period. Finally, First Affirmative Financial Network bought a new stake in shares of Nexa Resources in the third quarter worth about $63,000.

Nexa Resources Trading Down 2.6%

NYSE:NEXA traded down $0.33 on Friday, hitting $12.24. 437,793 shares of the stock were exchanged, compared to its average volume of 983,027. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 0.15 and a beta of 0.94. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. Nexa Resources has a 52 week low of $4.61 and a 52 week high of $16.89. The company’s 50-day moving average price is $13.85 and its 200 day moving average price is $12.63.

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

Wall Street Analyst Weigh In

NEXA has been the topic of a number of recent research reports. Scotiabank lifted their target price on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Wall Street Zen downgraded Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Bank of America lifted their price objective on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Zacks Research downgraded shares of Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, Morgan Stanley lifted their target price on shares of Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nexa Resources presently has a consensus rating of “Reduce” and an average target price of $13.00.

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.