Nexa Resources (NYSE:NEXA) Sees Unusually-High Trading Volume – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA) shares saw unusually-strong trading volume on Monday . Approximately 76,914 shares were traded during trading, an increase of 84% from the previous session’s volume of 41,708 shares.The stock last traded at $5.5950 and had previously closed at $5.25.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Nexa Resources to a “buy” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. upped their target price on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Citigroup began coverage on Nexa Resources in a research report on Tuesday, September 16th. They set a “neutral” rating and a $5.50 target price on the stock. Scotiabank boosted their price target on shares of Nexa Resources from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Finally, Morgan Stanley cut shares of Nexa Resources from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $6.29.

Nexa Resources Price Performance

The stock has a market cap of $727.10 million, a PE ratio of -45.79 and a beta of 0.84. The stock’s fifty day moving average is $5.21 and its 200-day moving average is $5.10. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.60.

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

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently bought a new position in Nexa Resources stock. Assenagon Asset Management S.A. acquired a new position in shares of Nexa Resources S.A. (NYSE:NEXA) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,486 shares of the company’s stock, valued at approximately $57,000.

About Nexa Resources

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.