Nexa Resources S.A. (NYSE:NEXA – Get Free Report) shares dropped 9.4% during trading on Thursday . The stock traded as low as $12.75 and last traded at $12.73. Approximately 238,132 shares traded hands during trading, a decline of 76% from the average session volume of 982,951 shares. The stock had previously closed at $14.05.
Wall Street Analysts Forecast Growth
NEXA has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research report on Wednesday, April 22nd. Wall Street Zen lowered Nexa Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Bank of America lifted their target price on Nexa Resources from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Scotiabank boosted their target price on Nexa Resources from $14.50 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley upped their price target on Nexa Resources from $11.50 to $12.50 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Nexa Resources currently has a consensus rating of “Reduce” and an average price target of $13.00.
Get Our Latest Analysis on NEXA
Nexa Resources Stock Performance
Nexa Resources (NYSE:NEXA – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Nexa Resources had a return on equity of 16.32% and a net margin of 6.44%.The business had revenue of $888.32 million during the quarter, compared to analysts’ expectations of $885.90 million. Analysts predict that Nexa Resources S.A. will post 2.7 EPS for the current year.
Institutional Trading of Nexa Resources
A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings 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 during the period. Citadel Advisors LLC boosted its position in shares of Nexa Resources by 142.4% during the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after purchasing an additional 35,411 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Nexa Resources by 124.1% in the 3rd quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock valued at $365,000 after buying an additional 40,535 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Nexa Resources in the 3rd quarter valued at $134,000. Finally, First Affirmative Financial Network bought a new stake in shares of Nexa Resources in the 3rd quarter valued at $63,000.
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.
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