Nexa Resources (NYSE:NEXA) Sets New 12-Month High – Time to Buy?

Shares of Nexa Resources S.A. (NYSE:NEXA) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.79 and last traded at $16.4790, with a volume of 272328 shares trading hands. The stock had previously closed at $15.99.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Scotiabank lowered their target price on shares of Nexa Resources to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 23rd. Citigroup upped their target price on shares of Nexa Resources from $11.00 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings restated a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Nexa Resources from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Seven analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.74.

Nexa Resources Price Performance

The firm has a fifty day moving average price of $12.17 and a two-hundred day moving average price of $9.98. The stock has a market capitalization of $2.21 billion, a P/E ratio of 16.71, a PEG ratio of 0.27 and a beta of 0.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.58 and a current ratio of 0.87.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Nexa Resources had a return on equity of 11.81% and a net margin of 4.42%. As a group, analysts expect that Nexa Resources S.A. will post 2.08 EPS for the current fiscal year.

Nexa Resources Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, July 28th will be paid a $0.1321 dividend. The ex-dividend date is Tuesday, July 28th. Nexa Resources’s dividend payout ratio is 10.00%.

Hedge Funds Weigh In On Nexa Resources

Several institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its stake in shares of Nexa Resources by 7.5% in the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after purchasing an additional 2,504 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Nexa Resources by 17.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,333 shares of the company’s stock worth $203,000 after purchasing an additional 2,879 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Nexa Resources in the 4th quarter worth approximately $36,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Nexa Resources in the 4th quarter worth approximately $44,000. Finally, Engineers Gate Manager LP lifted its stake in shares of Nexa Resources by 69.7% in the 4th quarter. Engineers Gate Manager LP now owns 17,546 shares of the company’s stock worth $155,000 after purchasing an additional 7,206 shares during the period.

About Nexa Resources

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.