Nexa Resources (NYSE:NEXA) Stock Price Up 9% – Should You Buy?

Shares of Nexa Resources S.A. (NYSE:NEXA) rose 9% on Thursday . The stock traded as high as $5.94 and last traded at $5.85. Approximately 46,975 shares traded hands during trading, a decline of 1% from the average daily volume of 47,417 shares. The stock had previously closed at $5.37.

Wall Street Analyst Weigh In

NEXA has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $7.50 to $7.80 in a report on Thursday, December 12th. Scotiabank cut their price objective on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.16.

Nexa Resources Price Performance

The company’s fifty day moving average is $6.80 and its 200 day moving average is $7.07. The company has a quick ratio of 0.76, a current ratio of 1.13 and a debt-to-equity ratio of 1.39. The stock has a market cap of $727.76 million, a PE ratio of -3.57 and a beta of 1.45.

Nexa Resources (NYSE:NEXA) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.20). The firm had revenue of $740.92 million for the quarter, compared to analysts’ expectations of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. As a group, sell-side analysts anticipate that Nexa Resources S.A. will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Dimensional Fund Advisors LP lifted its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 628,414 shares of the company’s stock after buying an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.47% of Nexa Resources worth $5,531,000 as of its most recent filing with the Securities and Exchange Commission.

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.