Short Interest in Nexa Resources S.A. (NYSE:NEXA) Declines By 47.3%

Nexa Resources S.A. (NYSE:NEXA) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 17,700 shares, a decline of 47.3% from the February 28th total of 33,600 shares. Based on an average trading volume of 110,500 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

NEXA has been the topic of several recent analyst reports. Bank of America cut their price objective on shares of Nexa Resources from $8.00 to $6.50 and set an “underperform” rating on the stock in a report on Monday, March 10th. Scotiabank cut their price target on shares of Nexa Resources from $7.00 to $5.00 and set a “sector underperform” rating on the stock in a research note on Friday, February 7th. Finally, Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $7.50 to $7.80 in a research note on Thursday, December 12th.

Nexa Resources Stock Performance

Shares of Nexa Resources stock traded up $0.06 on Friday, reaching $6.15. 20,963 shares of the stock were exchanged, compared to its average volume of 47,610. Nexa Resources has a twelve month low of $5.04 and a twelve month high of $9.61. The business has a 50 day moving average price of $5.72 and a two-hundred day moving average price of $6.91. 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 market capitalization of $813.84 million, a price-to-earnings ratio of -3.99 and a beta of 1.50.

Nexa Resources (NYSE:NEXA) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of $0.20 by ($1.20). The business had revenue of $740.92 million for the quarter, compared to analyst estimates of $731.81 million. Nexa Resources had a negative net margin of 7.37% and a negative return on equity of 8.49%. Analysts anticipate that Nexa Resources will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexa Resources

A hedge fund recently bought a new stake in Nexa Resources stock. Virtu Financial LLC acquired a new stake in Nexa Resources S.A. (NYSE:NEXA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,341 shares of the company’s stock, valued at approximately $126,000.

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.