Nexa Resources (NYSE:NEXA) Sets New 1-Year High – Time to Buy?

Shares of Nexa Resources S.A. (NYSE:NEXA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $8.73 and last traded at $8.68, with a volume of 7394 shares trading hands. The stock had previously closed at $8.60.

Analysts Set New Price Targets

NEXA has been the subject of several recent research reports. Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $7.50 to $7.80 in a research report on Thursday, December 12th. Scotiabank decreased their price objective on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.31.

Nexa Resources Price Performance

The company’s 50 day simple moving average is $7.92 and its 200 day simple moving average is $7.38. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $1.16 billion, a PE ratio of -5.79 and a beta of 1.52.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC boosted its stake in Nexa Resources S.A. (NYSE:NEXA) by 3.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 341,792 shares of the company’s stock after purchasing an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of Nexa Resources worth $2,611,000 as of its most recent filing with the SEC.

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.