Short Interest in Nexa Resources S.A. (NYSE:NEXA) Expands By 61.1%

Nexa Resources S.A. (NYSE:NEXA) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 250,526 shares, an increase of 61.1% from the November 30th total of 155,556 shares. Based on an average daily volume of 485,950 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s shares are short sold. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 485,950 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NEXA shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Nexa Resources in a research note on Monday, December 22nd. Citigroup started coverage on Nexa Resources in a research report on Tuesday, September 16th. They issued a “neutral” rating and a $5.50 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Nexa Resources from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Wall Street Zen raised Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Finally, Scotiabank lifted 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. Six analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $6.67.

Nexa Resources Stock Up 6.2%

Shares of NYSE:NEXA traded up $0.55 during trading on Friday, reaching $9.40. 1,177,617 shares of the stock were exchanged, compared to its average volume of 531,933. Nexa Resources has a 1-year low of $4.44 and a 1-year high of $9.61. The stock has a fifty day moving average of $6.72 and a two-hundred day moving average of $5.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -78.34, a price-to-earnings-growth ratio of 0.46 and a beta of 0.64.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 $763.52 million for the quarter, compared to the consensus estimate of $649.86 million. Research analysts anticipate that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Nexa Resources by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Nexa Resources by 124.1% during the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after purchasing an additional 40,535 shares in the last quarter. Citadel Advisors LLC grew its stake in Nexa Resources by 142.4% in the 3rd quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after buying an additional 35,411 shares in the last quarter. GSA Capital Partners LLP grew its position in Nexa Resources by 7.5% in the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after acquiring an additional 2,504 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Nexa Resources during the 3rd quarter valued at about $134,000.

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.