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

Nexa Resources S.A. (NYSE:NEXA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $5.61, but opened at $6.10. Nexa Resources shares last traded at $6.04, with a volume of 384,336 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NEXA shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Nexa Resources in a research note on Tuesday. Citigroup began coverage on Nexa Resources in a research note on Tuesday, September 16th. They set a “neutral” rating and a $5.50 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Nexa Resources from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Morgan Stanley lowered Nexa Resources from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $7.00 to $5.00 in a report on Tuesday, July 15th. Finally, Wall Street Zen raised Nexa Resources to a “buy” rating in a research note on Saturday, November 1st. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Nexa Resources currently has an average rating of “Reduce” and an average price target of $6.29.

Nexa Resources Stock Up 11.4%

The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.37. The firm has a market cap of $828.01 million, a price-to-earnings ratio of -51.91 and a beta of 0.84. The firm has a fifty day moving average price of $5.24 and a 200-day moving average price of $5.09.

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

Institutional Trading of Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Assenagon Asset Management S.A. purchased a new stake in shares of Nexa Resources S.A. (NYSE:NEXA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,486 shares of the company’s stock, valued at approximately $57,000.

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.