Nexa Resources (NYSE:NEXA) Sees Strong Trading Volume – Still a Buy?

Shares of Nexa Resources S.A. (NYSE:NEXA) saw an uptick in trading volume on Monday . 93,315 shares traded hands during trading, an increase of 85% from the previous session’s volume of 50,326 shares.The stock last traded at $6.16 and had previously closed at $6.25.

Wall Street Analysts Forecast Growth

NEXA has been the topic of a number of research analyst reports. Citigroup assumed coverage on shares of Nexa Resources in a report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 target price on the stock. Scotiabank boosted their target price on Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Nexa Resources in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Finally, Wall Street Zen upgraded shares of Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Five analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $6.29.

Nexa Resources Stock Up 5.4%

The stock has a fifty day moving average price of $5.37 and a two-hundred day moving average price of $5.11. The company has a market cap of $833.71 million, a price-to-earnings ratio of -52.08 and a beta of 0.84. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.14). Nexa Resources had a negative net margin of 0.57% and a negative return on equity of 8.80%. The business had revenue of $763.50 million during the quarter, compared to analyst estimates of $649.86 million. As a group, sell-side analysts expect that Nexa Resources S.A. will post 1.03 EPS for the current year.

Institutional Investors Weigh In On Nexa Resources

A number of large investors have recently added to or reduced their stakes in NEXA. GSA Capital Partners LLP increased its holdings in Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock valued at $178,000 after buying an additional 2,504 shares during the period. Assenagon Asset Management S.A. bought a new position in Nexa Resources in the third quarter valued at approximately $57,000. Dimensional Fund Advisors LP raised its position 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 in the last quarter. Susquehanna International Group LLP bought a new stake in Nexa Resources during the third quarter worth $134,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Nexa Resources by 142.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock valued at $301,000 after purchasing an additional 35,411 shares in the last quarter.

Nexa Resources Company Profile

Nexa Resources SA, together with its subsidiaries, engages in the zinc mining and smelting business worldwide. The company operates in two segments, Mining and Smelting. It produces zinc, zamac, zinc oxide, and zincal, as well as by-products, such as copper, lead, silver, gold, copper sulfate, sulfuric acid, copper cementum, silver concentrate, slag aggregates, and cadmium/sponge deposits.