Nexa Resources (NYSE:NEXA) Trading 8.5% Higher – Time to Buy?

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

Analysts Set New Price Targets

NEXA has been the subject of a number of recent research reports. Bank of America boosted their target price on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Wall Street Zen lowered Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research report on Monday, July 20th. Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Citigroup raised their target price on shares of Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $14.40.

Nexa Resources Trading Up 10.2%

The company has a quick ratio of 0.46, a current ratio of 0.80 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $2.05 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 0.16 and a beta of 0.94. The stock’s fifty day moving average price is $13.44 and its two-hundred day moving average price is $13.02.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The business had revenue of $907.93 million for the quarter, compared to analysts’ expectations of $906.52 million. Nexa Resources had a net margin of 8.02% and a return on equity of 20.25%. Sell-side analysts anticipate that Nexa Resources S.A. will post 2.72 earnings per share for the current year.

Hedge Funds Weigh In On Nexa Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in NEXA. Financial Management Professionals Inc. purchased a new stake in Nexa Resources in the second quarter worth $28,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Nexa Resources during the 4th quarter valued at $36,000. Nano Cap New Millennium Growth Fund L P bought a new position in Nexa Resources in the 4th quarter worth $44,000. Royal Bank of Canada raised its holdings in Nexa Resources by 173.8% in the 1st quarter. Royal Bank of Canada now owns 4,386 shares of the company’s stock worth $47,000 after purchasing an additional 2,784 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Nexa Resources in the 4th quarter worth about $83,000.

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.