Nexa Resources (NYSE:NEXA) Shares Gap Up to $6.63

Nexa Resources S.A. (NYSE:NEXA) shares gapped up before the market opened on Wednesday . The stock had previously closed at $6.63, but opened at $6.80. Nexa Resources shares last traded at $6.95, with a volume of 3,671 shares.

Analyst Ratings Changes

NEXA has been the subject of a number of research analyst reports. Scotiabank decreased their target price on Nexa Resources from $7.00 to $6.00 and set a “sector underperform” rating for the company in a research report on Tuesday, August 6th. Bank of America lifted their target price on shares of Nexa Resources from $7.50 to $8.00 and gave the company an “underperform” rating in a report on Wednesday, June 26th. Finally, Morgan Stanley increased their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.30.

Nexa Resources Stock Performance

The company has a quick ratio of 0.78, a current ratio of 1.16 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average price of $6.71 and a 200-day moving average price of $7.20. The firm has a market cap of $896.62 million, a price-to-earnings ratio of -3.11, a price-to-earnings-growth ratio of 0.25 and a beta of 1.53.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). Nexa Resources had a negative net margin of 10.30% and a negative return on equity of 4.16%. The firm had revenue of $736.31 million during the quarter, compared to analyst estimates of $674.20 million. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, analysts expect that Nexa Resources S.A. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexa Resources

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Nexa Resources by 3.7% during the second quarter. Renaissance Technologies LLC now owns 341,792 shares of the company’s stock worth $2,611,000 after acquiring an additional 12,092 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Nexa Resources by 11.9% in the second quarter. Dimensional Fund Advisors LP now owns 593,983 shares of the company’s stock valued at $4,538,000 after acquiring an additional 63,197 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Nexa Resources during the 1st quarter worth $8,004,000.

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.