Nexa Resources (NYSE:NEXA) Shares Gap Up – Should You Buy?

Nexa Resources S.A. (NYSE:NEXA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $13.80, but opened at $14.45. Nexa Resources shares last traded at $14.54, with a volume of 135,235 shares changing hands.

Wall Street Analysts Forecast Growth

NEXA has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective 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. Wall Street Zen lowered Nexa Resources from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price target on Nexa Resources from $7.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, July 24th. Scotiabank boosted their price objective on Nexa Resources from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Finally, Zacks Research lowered Nexa Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nexa Resources presently has an average rating of “Reduce” and a consensus price target of $14.60.

Nexa Resources Trading Up 4.7%

The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 6.93, a price-to-earnings-growth ratio of 0.16 and a beta of 0.95. 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 firm’s 50 day moving average is $13.61 and its 200 day moving average is $13.19.

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

Institutional Investors Weigh In On Nexa Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. acquired a new stake in shares of Nexa Resources during the second quarter worth $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Nexa Resources in the 4th quarter valued at $36,000. Royal Bank of Canada increased its stake 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. Nano Cap New Millennium Growth Fund L P purchased a new position in Nexa Resources in the 4th quarter worth about $44,000. Finally, Quantbot Technologies LP acquired a new stake in Nexa Resources during the 2nd quarter worth about $105,000.

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.