Nexa Resources S.A. (NYSE:NEXA) Short Interest Update

Nexa Resources S.A. (NYSE:NEXA) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 33,600 shares, a growth of 52.7% from the February 13th total of 22,000 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 112,700 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

NEXA has been the subject of a number of analyst reports. Scotiabank reduced their price target on Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating for the company in a report on Friday, February 7th. Bank of America reduced their price target on Nexa Resources from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Monday, March 10th. Finally, Morgan Stanley raised Nexa Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $7.50 to $7.80 in a report 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.86.

Nexa Resources Stock Performance

NYSE:NEXA traded up $0.04 during trading hours on Friday, reaching $5.25. 9,392 shares of the stock were exchanged, compared to its average volume of 48,432. 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 firm has a 50 day simple moving average of $5.86 and a 200-day simple moving average of $6.94. Nexa Resources has a 52 week low of $5.04 and a 52 week high of $9.61. The stock has a market capitalization of $694.64 million, a P/E ratio of -3.41 and a beta of 1.50.

Nexa Resources (NYSE:NEXA) last released its earnings results on Thursday, February 20th. The company reported ($1.00) 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 the consensus estimate of $731.81 million. Nexa Resources had a negative return on equity of 8.49% and a negative net margin of 7.37%. As a group, sell-side analysts forecast that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of Nexa Resources

A hedge fund recently raised its stake in Nexa Resources stock. Dimensional Fund Advisors LP boosted its holdings in Nexa Resources S.A. (NYSE:NEXA) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 628,414 shares of the company’s stock after acquiring an additional 7,220 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Nexa Resources worth $5,531,000 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.