Nexa Resources (NYSE:NEXA) Trading 1.9% Higher – Still a Buy?

Nexa Resources S.A. (NYSE:NEXA) shares rose 1.9% on Monday . The stock traded as high as $8.99 and last traded at $8.92. Approximately 8,054 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 31,278 shares. The stock had previously closed at $8.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank lowered their target price on shares of Nexa Resources from $6.00 to $5.75 and set a “sector underperform” rating on the stock in a report on Monday, November 4th. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the stock 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 issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Nexa Resources currently has a consensus rating of “Hold” and a consensus target price of $7.31.

Nexa Resources Price Performance

The company has a market capitalization of $1.17 billion, a P/E ratio of -5.83 and a beta of 1.52. 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 business’s fifty day moving average price is $7.97 and its 200-day moving average price is $7.40.

Hedge Funds Weigh In On Nexa Resources

An institutional investor recently raised its position in Nexa Resources stock. Renaissance Technologies LLC grew its stake in shares of Nexa Resources S.A. (NYSE:NEXA) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 341,792 shares of the company’s stock after buying an additional 12,092 shares during the quarter. Renaissance Technologies LLC owned 0.26% of Nexa Resources worth $2,611,000 at the end of the most recent quarter.

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.