Nexa Resources (NYSE:NEXA) Sees Strong Trading Volume – Time to Buy?

Shares of Nexa Resources S.A. (NYSE:NEXA) saw unusually-strong trading volume on Tuesday . Approximately 33,211 shares were traded during trading, an increase of 5% from the previous session’s volume of 31,490 shares.The stock last traded at $8.86 and had previously closed at $8.98.

Analyst Ratings Changes

A number of brokerages have issued reports on NEXA. Scotiabank decreased their price target on Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating for the company in a research note on Monday, November 4th. Morgan Stanley raised shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $7.50 to $7.80 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.31.

Nexa Resources Trading Down 2.2 %

The firm has a market cap of $1.16 billion, a P/E ratio of -5.81 and a beta of 1.52. The company’s 50 day moving average is $7.95 and its two-hundred day moving average is $7.39. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.13 and a quick ratio of 0.76.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Renaissance Technologies LLC increased its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

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.